The regulation establishing new controls on cash entering or leaving the EU has been published in the EU official journal. The new measures will apply from 3 June 2021. The article allowing the Commission to make provision for certain measures to ensure uniform application of controls by the member states comes into force on 2 December.
This regulation:
extends the definition of cash to include gold and other commodities used as highly-liquid stores of value, and anonymous prepaid electronic cash cards;
enables authorities to register information about cash movements below the €10,000 threshold and to temporarily seize cash if they suspect criminal activity; and
requires disclosure of unaccompanied cash sent by cargo or post.
Article 16, under which the Commission can introduce measures to ensure uniform application of the regulation among member states, has effect from 2 December 2018. These measures include templates, common risk criteria, rules for exchange of information, and the format for providing the Commission with anonymised statistical information. See bit.ly/2OGDzgE.
The regulation establishing new controls on cash entering or leaving the EU has been published in the EU official journal. The new measures will apply from 3 June 2021. The article allowing the Commission to make provision for certain measures to ensure uniform application of controls by the member states comes into force on 2 December.
This regulation:
extends the definition of cash to include gold and other commodities used as highly-liquid stores of value, and anonymous prepaid electronic cash cards;
enables authorities to register information about cash movements below the €10,000 threshold and to temporarily seize cash if they suspect criminal activity; and
requires disclosure of unaccompanied cash sent by cargo or post.
Article 16, under which the Commission can introduce measures to ensure uniform application of the regulation among member states, has effect from 2 December 2018. These measures include templates, common risk criteria, rules for exchange of information, and the format for providing the Commission with anonymised statistical information. See bit.ly/2OGDzgE.
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