CySEC says cash payments of €10k banned

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CySEC says cash payments of €10k banned
 © BusinessMail 2021
By Stelios Orphanides

The Cyprus Securities and Exchange Commission notified supervised companies that accepting €10,000 or more in cash payments is considered a criminal offence under the anti-money laundering law and is punishable by up to one tenth the amount of the cash payment.

 

A recent amendment to legislation now adds traders of motor vehicles to other professionals affected by the law, CySEC said in a circular issued to supervised entities on Wednesday.

Until now, the law, which bans cash amounts €10,000 or more in a single or several payments related to each other, was...


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Article automatically added to our system on Wednesday, July 18, 2018

CySEC says cash payments of €10k banned


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Article Tags: #cysec   #payments   #banned  


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