Press Release: New EU cash declaration rules

A new European Union law on travellers declaring cash comes into force on 15 June 2007. It is being introduced to help combat money laundering. The new Regulation (EC Regulation 1889/2005) will require Member States to ensure that travellers entering or leaving the EU through its external borders make a declaration if they are carrying more than €10,000 (or its equivalent in other currencies or easily convertible assets such as cheques drawn on a third party).