LUXEMBOURG – NO STRICT LIMITATIONS ON CASH MONEY USE

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keywords: cash, cash money, terrorism financing, luxembourg. There will be no limit for cash payments in Luxembourg, according to Minister of Finance Pierre Gramegna on Monday, responding to MP Laurent Mosar (CSV). While many European countries have set limits for cash payments (Belgium, Bulgaria, Croatia, Czech Republic, Denmark, France, Greece, Hungary, Italy, Latvia, Poland, Portugal, Romania, Slovakia, Slovenia and Spain) this is not the case in Luxembourg. The Minister reminds that the European directives on money laundering and the financing of terrorism did not provide for such limitations. However, even…

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