LATEST: The Netherlands argues for €5,000 cash limit & €500 notes to be taken out of circulation to curb money laundering - AML Intelligence
Compliance & Anti-Financial Crime
Leadership | Insight | Network

AML, Compliance, Financial Crime

LATEST: The Netherlands argues for €5,000 cash limit & €500 notes to be taken out of circulation to curb money laundering

By Elizabeth Hearst for AMLi

Representatives from The Netherlands, Belgium, France, Italy and Spain have called for a maximum cash limit of €5000, in an attempt to crack down on money laundering in the bloc. 

Dutch newspaper De Telegraaf reports that outgoing Minister of Finance Wopke Bastiaan Hoekstra has written to the country’s House of Representatives, revealing that the countries are “pleading” with the European Commission to halve its proposed €10,000 limit. 

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!