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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. 

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