16/11/2004 (Agence Europe) - The Ecofin Council adopted a common position on the proposal for a regulation on control of cash movements at the Union's external borders. The threshold for compulsory declarations of any incoming or outgoing liquidity will be EUR 10,000. "A nice round figure", Mr Zalm was pleased to note. The regulation will complicate money laundering operations because it will impose clear and uniform procedure throughout Community territory. "It is important to combat terrorist financing", Mr Zalm stressed. The future act will complete controls already practised on cash movements. Directive 91/308/EEC on money laundering makes it an obligation for credit establishments and financial institutions to establish, for any amount over EUR 15,000, the identity of all clients who open a bank account or have bank deposits.