Controls on cash entering and leaving the EU: Council agrees negotiating stance

On 28 June, the Council's Committee of Permanent Representatives (Coreper) agreed its position on a draft regulation aimed at improving controls on cash entering or leaving the Union.

Edward Scicluna, Minister for Finance of Malta, said that “Criminal and terrorist networks take advance of anonymity of cash payment transactions. That is why we need an effective system of cash declarations that can help authorities to better prevent and fight against illegal activities and reinforce security across the Union”.