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Last Updated: Tuesday, 16 November, 2004, 18:41 GMT
Euros cash declaration limit set
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The new limit will apply to anyone leaving or entering the EU-bloc
Travellers carrying more than 10,000 euros (6,999; $12,973) within the European Union will have to declare the cash under proposed new legislation.

Currency declarations in force at borders presently varies by country.

The law agreed by EU finance ministers intends to strengthen anti-laundering regulations brought in as a response to the September 11 terrorist attacks.

The 10,000 euros figure is the same threshold that applies to electronic transfers within the 25 nation bloc.

The new measure is designed to "prevent laundered money from reaching criminals and terrorists" without unduly interfering with legitimate travellers and traders, said EU Taxation and Customs Commissioner Frits Bolkestein.

The measure still requires final approval by the European Parliament.

A cross-border operation by EU customs authorities found total cash movements of 1.35bn euros crossed borders between September 1999 and February 2000.

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19 Sep 04 |  Business
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10 Nov 03 |  Business

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