Belgium to reduce cash payments by banks to 5000 euros
Brussels - Kuna
The legal limit for payments in cash by banks in Belgium is to be reduced from the current 15,000 euro to 5,000 euro , Belgian newspapers reported Saturday. The new measures are aimed at fighting money laundering, according to Belgian Secretary of State responsible for anti-fraud John Crombez . "The bigger the amount, the greater the risk of fraudulent payments. With a transfer you have a proof of the transaction for cash payments, " Crombez was quoted saying. He said he intends in 2014 to take a step further and reduce the maximum amount of cash payments to 3,000 euros. The issue is being discussed by the Belgian government.
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Dubai - Arab Today
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