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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 makeasnek@lemmy.ml to c/privacy@lemmy.ml

93 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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[–] ExtremeDullard@lemmy.sdf.org 3 points 3 months ago (2 children)

That is not a typical form of employment. I'm sure there are edge cases where that sort of thing is workable. But for most people who work for an employer, that's not an option.

Besides, I'm almost certain people who have cash-only or Bitcoin-only forms of income will be repeatedly audited like nobody's ever been audited. The taxman doesn't like cash transactions. I know that because I have a few friend who run cafes and bars in France and Belgium, and they're audited ALL.THE.FUCKING.TIME for one reason and one reason only: most bar patrons in those countries pay in cash, and it's super-easy for bar owners to whisk some of that money away from the cash register.

[–] activistPnk 3 points 3 months ago* (last edited 3 months ago)

That’s not because of the cash. Even white collar workers getting paid electronically get audited because Belgium has a very high audit rate. I heard the probability of getting audited in Belgium is around 50%. Belgian auditors are extremely ambitious and highly motivated. They are employed in high numbers. The only way to avoid being audited in Belgium is to not work in Belgium.

[–] xilliah@beehaw.org 2 points 3 months ago

Well, I must also say that I realize that a lot of these places hide revenue.

But it course that is necessary if you want to compete with larger companies that evade taxes.