Brussels, 16/07/2015 (Agence Europe) - On Thursday 16 July, the Court of Justice of the EU found that Hungary's imposition of fines of up to 60% of undeclared cash amounts above €50,000 crossing an external border of the EU is disproportionate to the infringement and is a breach of the regulation (1889/2005) on controls of cash entering and leaving the EU (case C-255/14).
The regulation in question, which aims to block the movements of illegal cash across the external borders of the EU,...