A recent inspection activity carried out by the Guardia di Finanza has brought renewed attention to the new reporting obligations applicable to the cross-border transport of valuables. In the case examined, two operators in the jewelry sector residing in another European Union Member State were accused of violating the regulations on monitoring cash movements after crossing the Italian border while transporting investment gold bullion without previously submitting the declaration required under Legislative Decree No. 195/2008.

The notice of violation arises from regulatory amendments that entered into force in 2025, under which investment gold bullion has also been classified as cash for the purposes of customs and currency monitoring obligations. Consequently, the transport into or out of Italian territory of investment gold with a value equal to or exceeding EUR 10,000 now entails the obligation to submit a specific declaration to the competent authorities, similarly to what is already required for cash.

This development forms part of the broader strengthening of European and national measures aimed at preventing money laundering, terrorist financing, and the illicit cross-border transfer of valuables, significantly expanding the range of instruments subject to monitoring. The case therefore represents an important warning for professional operators, investors, and businesses involved in the trade and transportation of precious metals, who are now required to verify with particular care the compliance obligations applicable to international transactions.

In light of the new regulatory framework, it is advisable to implement internal compliance procedures and to assess in advance the reporting obligations connected with international transactions involving precious metals.

(by Avv. Federica Fantuzzi – federica.fantuzzi@studiozunarelli.com and Avv. Andrea Piras – andrea.piras@studiozunarelli.com)