EU wants to ban cash payments lager than € 10.000

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MDeen
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EU wants to ban cash payments lager than € 10.000

Post by MDeen »

In german: https://www.deutschlandfunk.de/eu-verbi ... o-100.html

Translation:
EU bans cash payments of over 10,000 euros

Cash payments of more than 10,000 euros are to be banned in the EU.

Representatives of the European Parliament and the member states agreed on stricter measures against money laundering. In the future, retailers of luxury goods will have to check the identities of their customers and report suspicious transactions to the authorities. The stricter rules will apply, among other things, to the trade in jewelry, luxury cars, private planes and ships. EU Parliament negotiator Heinäluoma said a Europe-wide uniform framework would close national loopholes for money laundering. The member states have so far lost billions of euros here.
National authorities will be responsible for monitoring the new rules, coordinated by the future European anti-money laundering authority “Amla”. The formal approval of the EU Parliament and member states is still required.
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ART
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Re: EU wants to ban cash payments lager than € 10.000

Post by ART »

MDeen wrote: Thu Jan 18, 2024 2:26 pmCash payments of more than 10,000 euros are to be banned in the EU.
This measure has been required for a long time to combat financial crime. I don't think it will affect tracking much (if you're not a millionaire...), just don't set excessive lower limits, such as €500 in Greece or €1000 in France and Spain.
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