It is also planned to establish stricter control over cryptocurrencies and banking transactions of the wealthy with a net worth of at least 50 million euros.
On January 18, the European Parliament and EU countries agreed on rules against money laundering, according to which cash payments of more than 10 thousand euros are prohibited. The law has not yet been passed. The APA reported it.
It found that sellers of luxury goods are also required to verify the identity of their customers and report suspicious transactions to the authorities.
The rules will apply, in particular, to the trade in jewelry, luxury cars, private jets and yachts. According to the agreement, from 2029 the new law will apply to financially strong football clubs such as Germany’s Bayern Munich and Borussia Dortmund. This is because professional football, with billions of dollars of investment from third countries, is considered a “potential gateway for money laundering in Europe.”
It is also planned to establish stricter control over cryptocurrencies and banking transactions of the wealthy with a net worth of at least 50 million euros.
The law has not yet been ratified by the European Parliament and EU countries. The new rules will be monitored by national authorities and coordinated by the new European Anti-Money Laundering Agency (AMLA).
It was previously reported that Switzerland will close Russian money laundering loopholes.
We remind you that the United States has blocked the money laundering channel of Russian oligarchs.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.