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Strengthening EU Cash Controls to Combat Crime

Summary

This regulation strengthens EU controls on cash and high-value items entering or leaving the Union to prevent money laundering and terrorism financing.
10 14.12.2020
Other
economy
finance
taxation
criminal law
public safety

Key points

  • The regulation expands the definition of 'cash' to include high-value items like gold, diamonds, and anonymous prepaid cards.
  • Individuals must declare cash or equivalent values of 10,000 EUR or more when entering or leaving the Union.
  • New rules are established for declaring cash that is sent via mail or cargo without a person traveling with it.
  • Authorities may temporarily seize cash for up to 30 days if there are suspicions of criminal activity, even if the amount is below the standard threshold.
Documents (PDFs)
REPORT on the proposal for a regulation of the European Parliament and of the Council on controls on cash entering or leaving the Union and repealing Regulation (EC) No 1889/2005 Controls on cash entering or leaving the Union ***I
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