Federal Minister of the Interior Nancy Faeser (SPD) calls for an upper limit of 10,000 euros for cash payments in Germany. This is intended to make it more difficult for criminals to launder money.
“A 30,000 euro cash purchase of jewelry or watches should soon be a thing of the past,” said Faeser of “Bild am Sonntag”. “I am committed to introducing a general cash upper limit of 10,000 euros. This reduces the risk of criminal assets being concealed.”
Faeser is about “breaking up criminal structures and consistently depriving them of criminal income.” Ownership structures must become more transparent, property owners easier to identify. The same applies to cash transfers.
The Interior Minister is in favor of introducing the upper limit across Europe. The EU Commission had already proposed a limit of 10,000 euros in the summer of 2021. There is already an upper limit in more than a dozen EU countries – in Belgium it is 3000 euros, in Slovakia it is 5000 euros, in France it is even only 1000 euros.
