“The new rules are part of the EU’s wider effort to crack down on money laundering and other financial crimes by making large transactions more transparent and easier for authorities to track.”
Mhm yes, I love governments being able to track transactions. I just feel so warm and fuzzy inside knowing my financial information is being further exposed to state actors! 🤭
Frequent-Chain-6082 on
So, now when I make illegal payments with illegal money it will be forbidden? Gosh!
[deleted] on
[deleted]
DonManuel on
> Private sales between individuals are excluded
>
> The rules do not apply in the same way to purely private transactions between individuals acting outside a professional or business context.
>
> That means the regulation is not banning cash payments altogether. Instead, it focuses on high-value commercial operations where authorities believe financial transparency is most important.
itinerantmarshmallow on
So when I pay my builder/tradesman in cash and he doesn’t declare it will be even more illegal? Oh no…
Iapetus404 on
But the EU allows money laundering from third countries through the golden visa…..
jack5624 on
Why is this in the EU’s mandate? You see this is why I still to this day support Brexit. The EU is slowly legislating more and more over people’s lives and eventually basically the main government. It’s less democratic because your vote is diluted by the nature of it being a large organisation.
blackdragonstory on
Who the f does the eu think they are,tf is this.
Its like countries in eu dont even need government at this point then if eu will dictate everything…
Bummer, we won’t be able to construct new buildings with cash coming in suitcases from the Netherlands every Friday anymore (true story, btw)! /s
CaucSaucer on
A whole lot of €9999 purchases coming out of the criminal world, while the rest of us wonder why banks suddenly start carrying strap-ons in addition to the other ways they’re already fucking us.
mihor on
EU is such a joke.
YouthEmpty5991 on
In France, the limit has been set at €1,000 for quite some time now 🤷♂️
Superb_Monkey on
I think we already had that limit since ages.
Shnorkylutyun on
And then they will find workarounds, like two months rent, after which it can be bought for 900.-
But buying a second hand car for 11k cash? Nope. Illegal.
PeterZ4QQQbatman on
We should ban cash payments over 10€. In Italy is banned over 3000€ now also between privates. And some years ago was 1000€ but then a right wing government rised to 3000€
JinxedBayblade on
Brussels, the friend and helper for anyone but EU tax payers
melancholy_dood on
> European institutions argue that large cash transactions remain one of the easiest ways to conceal illicit financial activity.
>By introducing a common ceiling across all EU countries, Brussels hopes to close gaps between national systems and make it harder for suspicious transactions to move across borders unnoticed. Authorities also believe the changes will strengthen efforts to combat money laundering, tax evasion, organised crime, and terrorist financing.
>In essence, the EU is not eliminating cash, but from summer 2027, using it for large commercial transactions without any formal traceability will no longer be possible anywhere in the bloc.
Something tells me this not going to have a significantly negative impact on “illicit financial activity”.
StevenStoveMan on
An other rich-asshole loophole closed.
WittyYak on
Life will get harder in Germany where communication is with fax and payments in cash
ididntunderstandyou on
What do I do with my duffel bag now ?
ExternalUserError on
Well, that’s it. They finally solved money laundering once and for all. 🤝
ThickArt6492 on
It’s only a matter of time before cash payments are made so inconvenient, that grifters and Europoor bots start spreading the propaganda of Brussels, and before we know it, cash no more.
Brave-Two372 on
So when somebody pays in cash above 10k, then it no longer can be declared and taxes will be unpaid?
athstas on
Calm down, in Greece the limit is 500 euro for purchases. Moreover cash is banned for rent payments and for buying property.
26 commenti
How will the Germans buy cars now?
“The new rules are part of the EU’s wider effort to crack down on money laundering and other financial crimes by making large transactions more transparent and easier for authorities to track.”
Mhm yes, I love governments being able to track transactions. I just feel so warm and fuzzy inside knowing my financial information is being further exposed to state actors! 🤭
So, now when I make illegal payments with illegal money it will be forbidden? Gosh!
[deleted]
> Private sales between individuals are excluded
>
> The rules do not apply in the same way to purely private transactions between individuals acting outside a professional or business context.
>
> That means the regulation is not banning cash payments altogether. Instead, it focuses on high-value commercial operations where authorities believe financial transparency is most important.
So when I pay my builder/tradesman in cash and he doesn’t declare it will be even more illegal? Oh no…
But the EU allows money laundering from third countries through the golden visa…..
Why is this in the EU’s mandate? You see this is why I still to this day support Brexit. The EU is slowly legislating more and more over people’s lives and eventually basically the main government. It’s less democratic because your vote is diluted by the nature of it being a large organisation.
Who the f does the eu think they are,tf is this.
Its like countries in eu dont even need government at this point then if eu will dictate everything…
This has been news for quite a while btw : [https://businessplus.ie/news/acca-aml-rules/](https://businessplus.ie/news/acca-aml-rules/)
Bummer, we won’t be able to construct new buildings with cash coming in suitcases from the Netherlands every Friday anymore (true story, btw)! /s
A whole lot of €9999 purchases coming out of the criminal world, while the rest of us wonder why banks suddenly start carrying strap-ons in addition to the other ways they’re already fucking us.
EU is such a joke.
In France, the limit has been set at €1,000 for quite some time now 🤷♂️
I think we already had that limit since ages.
And then they will find workarounds, like two months rent, after which it can be bought for 900.-
But buying a second hand car for 11k cash? Nope. Illegal.
We should ban cash payments over 10€. In Italy is banned over 3000€ now also between privates. And some years ago was 1000€ but then a right wing government rised to 3000€
Brussels, the friend and helper for anyone but EU tax payers
> European institutions argue that large cash transactions remain one of the easiest ways to conceal illicit financial activity.
>By introducing a common ceiling across all EU countries, Brussels hopes to close gaps between national systems and make it harder for suspicious transactions to move across borders unnoticed. Authorities also believe the changes will strengthen efforts to combat money laundering, tax evasion, organised crime, and terrorist financing.
>In essence, the EU is not eliminating cash, but from summer 2027, using it for large commercial transactions without any formal traceability will no longer be possible anywhere in the bloc.
Something tells me this not going to have a significantly negative impact on “illicit financial activity”.
An other rich-asshole loophole closed.
Life will get harder in Germany where communication is with fax and payments in cash
What do I do with my duffel bag now ?
Well, that’s it. They finally solved money laundering once and for all. 🤝
It’s only a matter of time before cash payments are made so inconvenient, that grifters and Europoor bots start spreading the propaganda of Brussels, and before we know it, cash no more.
So when somebody pays in cash above 10k, then it no longer can be declared and taxes will be unpaid?
Calm down, in Greece the limit is 500 euro for purchases. Moreover cash is banned for rent payments and for buying property.