4 ms·
In what jurisdiction do I have to report transferring more than $10,000? That's an obligation of the bank, not individuals using banks. (At least in the U.S. D
by bogositosius 9y ago
In what jurisdiction do I have to report transferring more than $10,000? That's an obligation of the bank, not individuals using banks.
(At least in the U.S. Do EU citizens have to report themselves for such transactions?)
- petre 9y agoNo, the bank doesn't need to report it, they have transaction records on file. It's specifically about moving cash in excess of 10k euros. It's the same i nthe US, you have to report cash payments in excess to $10k to the IRS. http://ec.europa.eu/taxation_customs/individuals/cash-controls_en http://ec.europa.eu/taxation_customs/individuals/cash-contro... In Greece they have even extended this to other comodities such as gold and you have to report it regardless if you're moving it or not, otherwise they can freely confiscate it. http://www.zerohedge.com/news/2015-12-01/greeks-told-declare-cash-under-mattress-jewelry-and-precious-stones http://www.zerohedge.com/news/2015-12-01/greeks-told-declare...
- piaste 9y ago> (At least in the U.S. Do EU citizens have to report themselves for such transactions?) No, but transactions over X € must be conducted using a traceable medium - cheques, credit cards, bank transfer, sometimes Bitcoin. X varies by country. Conducting transactions above X € in cash doesn't automatically constitute criminal money laundering, of course, it just gets fined.