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At least Germany recently changed their laws (initiated by the Green Party) that prevents buying real estate with cash. But this has been a money laundering pra
by mentalgear 2y ago
At least Germany recently changed their laws (initiated by the Green Party) that prevents buying real estate with cash. But this has been a money laundering practice for the mob for decades.
- comrade1234 2y agoYou’re forced to take out a bank loan in Germany if you want to buy property?
- 9dev 2y agoNope, but you can’t buy property with literal cash, crypto, or precious metals anymore. In Germany people use SEPA payments as the primary means to transfer money, and that is the intended way to handle big transactions.
- NikolaNovak 2y agoI believe there are numerous ways to transfer money without using physical bills; disallowing cash for large purchases doesn't imply a loan. Personal or certified Cheque, money order , wire, interac / email transfer are some of the options, I'm sure there are others. Note, all other criticisms about privacy still apply, thisbis where cash is king of course. But it's not forcing loans :-)
- Gigachad 2y agoAustralia just implemented laws where you have to show where the money came from when buying property, gold, and some other stuff with cash.
- ajxs 2y agoAre you referring to Australia's AML/CTF Tranche 2 reforms? If so, these actually come into effect on 1 July 2026.