Bank of Italy’s Tarantola Backs Lower Cash-Payment Threshold

Reducing cash transactions and forcing wider use of electronic payments may help Italy fight money laundering and tax evasion, Bank of Italy Deputy Director General Anna Maria Tarantola said.

“Transparency and traceability of transactions are a key tool for fighting” laundering, “tax evasion and, more in general, the black economy,” Tarantola said today in a speech in Milan, according to an e-mailed transcript. Limiting the use of cash by law may be “unavoidable,” she said.