Privacy

32023 readers

1175 users here now

A place to discuss privacy and freedom in the digital world.

Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.

In this community everyone is welcome to post links and discuss topics related to privacy.

Some Rules

Posting a link to a website containing tracking isn't great, if contents of the website are behind a paywall maybe copy them into the post
Don't promote proprietary software
Try to keep things on topic
If you have a question, please try searching for previous discussions, maybe it has already been answered
Reposts are fine, but should have at least a couple of weeks in between so that the post can reach a new audience
Be nice :)

Related communities

Chat rooms

[Matrix/Element]Dead
Discord

much thanks to @gary_host_laptop for the logo design :)

founded 5 years ago

MODERATORS

242

EU limits anonymous cash payments to €3k and all cash payments to €10k. Pirate party reacts. (www.evz.de)

submitted 3 months ago* (last edited 3 months ago) by makeasnek@lemmy.ml to c/privacy@lemmy.ml

98 comments fedilink hide all child comments

cross-posted from: https://slrpnk.net/post/11683880

cross-posted from: https://slrpnk.net/post/11683421

The EU has quietly imposed cash limits EU-wide:

€3k limit on anonymous payments

€10k limit regardless (link which also lists state-by-state limits).

From the jailed¹ article:

An EU-wide maximum limit of €10 000 is set for cash payments, which will make it harder for criminals to launder dirty money.

It will also strip dignity and autonomy from non-criminal adults, you nannying assholes!

In addition, according to the provisional agreement, obliged entities will need to identify and verify the identity of a person who carries out an occasional transaction in cash between €3 000 and €10 000.

The hunt for “money launderers” and “terrorists” is not likely meaningfully facilitated by depriving the privacy of people involved in small €3k transactions. It’s a bogus excuse for empowering a police surveillance state. It’s a shame how quietly this apparently happened. No news or chatter about it.

¹ the EU’s own website is an exclusive privacy-abusing Cloudflare site inaccessible several demographics of people. Sad that we need to rely on the website of a US library to get equitable access to official EU communication.

update

The Pirate party’s reaction is spot on. They also point out that cryptocurrency is affected. Which in the end amounts to forced banking.

#warOnCash

you are viewing a single comment's thread
view the rest of the comments

[–] viking@infosec.pub 0 points 3 months ago (2 children)

Anti-money laundering provisions in the EU have been adjusted several times though, so there's a precedent.

It's impossible to define the amount in relative terms such as "average EU monthly salary +25%", because that would simply make it impractical in everyday use when the amount changes every month.

[–] chicken@lemmy.dbzer0.com 2 points 3 months ago (1 children)

Anti-money laundering provisions in the EU have been adjusted several times though

Adjusted to give more leeway? Can you cite a source on this happening

[–] viking@infosec.pub 2 points 3 months ago

I'll find one for you later, just heading to the office. But from working as a financial auditor in the past, I know that the AML provision used to be 10k EUR for transfers abroad, and was later increased to 12.5k EUR.

[–] activistPnk@slrpnk.net 1 points 3 months ago

It’s impossible to define the amount in relative terms such as “average EU monthly salary +25%”,

It’s not impossible. Indexes are published. This is what they do with rent in places where rent is controlled. Landlords cannot increase rent more than an index. So they have to do the math. And in this case it’s not even a variable baseline like rent, it’s fixed, so the calculation can also be published so people need not do any math.