Press Release: Customs: European Commission proposes new cash controls to combat money laundering

The European Commission presented a proposal on 28 June 2002 for a Regulation to introduce an EU-wide approach to controlling cash movements in and out of the EU. The Regulation would require Member States to ensure travellers entering or leaving the EU through its external borders made a written declaration if they were carrying more than €15,000 in cash (or its equivalent in other currencies or easily convertible items such as cheques drawn on a third party and traveller's cheques/postal cheques). This measure would complement the controls already applied under the EU's Money Laundering Directive (91/308/EC) to transactions via financial institutions.

http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/02/158&format=HTML&rapid=0&language=EN&guiLanguage=en http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/02/158&format=HTML&rapid=0&language=EN&guiLanguage=en

http://ec.europa.eu/comm/taxation_customs/publications/info_doc/customs/cash-control.pdf http://ec.europa.eu/comm/taxation_customs/publications/info_doc/customs/cash-control.pdf

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