On Jul. 18, 2018, CSEC issued reminder of the new provision on cash collection.
- New Art 5A of AML law prohibits receipt of cash of €10,000 or over, by persons
selling gems, precious metal, motor vehicle, work of art, antiques, as business. - Applies regardless if carried out in single act or in series of related transactions.
- Criminal offense, liable to a fine not exceeding 10% of amount received in cash.
