Controls on cash entering or leaving the Union

05-09-2018

In 2016, the Council, in its conclusions on the fight against the financing of terrorism, stressed the importance of taking measures against illicit cash movements, and urged the European Commission to amend the 2005 cash control regulation. The 2017 Commission proposal aims to fill the gaps in the existing regulation, in particular on the definition of cash and the different cross-border movements. The provisional agreement reached by the Council and the Parliament on the draft regulation in May 2018 is scheduled to be voted by Parliament at first reading during the September plenary session.

In 2016, the Council, in its conclusions on the fight against the financing of terrorism, stressed the importance of taking measures against illicit cash movements, and urged the European Commission to amend the 2005 cash control regulation. The 2017 Commission proposal aims to fill the gaps in the existing regulation, in particular on the definition of cash and the different cross-border movements. The provisional agreement reached by the Council and the Parliament on the draft regulation in May 2018 is scheduled to be voted by Parliament at first reading during the September plenary session.