On Wednesday 28 June, the national ambassadors to the EU (Coreper) reached a political agreement in principle on the proposed regulation aiming to tighten up controls on cash entering or leaving the European Union (see EUROPE 11694).
“Terrorist networks take advantage 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”, said the Maltese finance minister,...