The EU is poised to take action against money-laundering by
regulating the entry of large sums of cash into the Union.
The Council has approved a proposal for the
compulsory declaration at EU borders of large amounts of cash:
the proposal only applies to external borders of the
Union. The aim is to stop untraceable money entering the Community
which could then be used to fund crime and terrorist activities. It
reflects the policy to increase the use of customs controls in the
fight against terrorism and organised crime.
‘Cash’ will include banknotes and cheques. The threshold of
€15,000 initially proposed was reduced by the Council to
The proposal will now to go back to the Parliament for
a second reading.
EU official documents
- Eur-Lex:Proposal for a Regulation on the prevention of money laundering by means of customs co-operation(COM (2002)328)(24 Sept 2002) [FR] [FR] [DE]
- Council:Common Position with a view to the adoption of a Regulation on controls of cash entering or leaving the Community(17 Feb 2005) Press Release [FR]
- OEIL:Money laundering: prevention by means of customs cooperation
- DG Freedom,Security and Justice:EU putting a stranglehold on dirty money