Privacy

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EU limits anonymous cash payments to €3k and all cash payments to €10k. Pirate party reacts. (www.evz.de)

submitted 3 months ago* (last edited 3 months ago) by [email protected] to c/[email protected]

98 comments fedilink hide all child comments

cross-posted from: https://slrpnk.net/post/11683880

cross-posted from: https://slrpnk.net/post/11683421

The EU has quietly imposed cash limits EU-wide:

€3k limit on anonymous payments

€10k limit regardless (link which also lists state-by-state limits).

From the jailed¹ article:

An EU-wide maximum limit of €10 000 is set for cash payments, which will make it harder for criminals to launder dirty money.

It will also strip dignity and autonomy from non-criminal adults, you nannying assholes!

In addition, according to the provisional agreement, obliged entities will need to identify and verify the identity of a person who carries out an occasional transaction in cash between €3 000 and €10 000.

The hunt for “money launderers” and “terrorists” is not likely meaningfully facilitated by depriving the privacy of people involved in small €3k transactions. It’s a bogus excuse for empowering a police surveillance state. It’s a shame how quietly this apparently happened. No news or chatter about it.

¹ the EU’s own website is an exclusive privacy-abusing Cloudflare site inaccessible several demographics of people. Sad that we need to rely on the website of a US library to get equitable access to official EU communication.

update

The Pirate party’s reaction is spot on. They also point out that cryptocurrency is affected. Which in the end amounts to forced banking.

#warOnCash

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[–] [email protected] 1 points 3 months ago (1 children)

How will they enforce it? I’m sure big/medium businesses will comply, but how can you track a cash transaction between private citizens?

In the reporting I've seen there is a specific exception for private sales anyway. The example they give is that privately buying or selling a used car should remain possible.

[–] [email protected] 2 points 3 months ago

Oh don't worry. If you try to deposit it at a bank, they'll start asking questions right away on how you got the money. Unless you never bring it into the "official" system, the financial surveillance system will find it.