Federal Interior Minister Nancy Faeser is calling for a limit of 10,000 euros for cash payments. “A 30,000 euro cash purchase of jewelry or watches should soon be a thing of the past. I support the introduction of a general cash limit of 10,000 euros. This reduces the risk of criminals concealing their assets,” said the SPD politician to “Bild am Sonntag”.
The aim is to “smash up criminal structures and consistently deprive them of criminal income,” says Faeser. Ownership structures should become more transparent, property owners should be easier to identify. The same applies to cash transfers.
At the end of October, the federal government already introduced a law according to which real estate could no longer be paid for in cash in the future. The Bundestag and Bundesrat still have to deal with it.
