Journal of
Italian
Banking
Association
year 100
Italian
Banking
Association
year 100
Cheques and anti-money laundering: the need for a reconsideration
Giovanni CastaldiMay 2021 - n. 5
Keywords: Assegno, antiriciclaggio
Jel codes: G21, G28, K42
It cannot be denied that cheques – like any other payment instrument – can be used as vehicles for money laundering and terrorist financing. But we must ask ourselves about the level of risk inherent in their use, especially in the face of the development of the payment system that offers the possibility of transferring monetary values online, even anonymously, through operators and platforms that evade national jurisdictions. It therefore seems appropriate to remove the excessive constraints which, at national level, hinder the use of a traditional means of payment, which is still capable of meeting the needs of a wide range of users and whose risk of use for illegal purposes may be considered limited and can be countered by ordinary control instruments available to the competent authorities.
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