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by bogositosius 3337 days ago
In what jurisdiction do I have to report transferring more than $10,000? That's an obligation of the bank, not individuals using banks.

(At least in the U.S. Do EU citizens have to report themselves for such transactions?)
2 comments
petre 3337 days ago
No, the bank doesn't need to report it, they have transaction records on file. It's specifically about moving cash in excess of 10k euros. It's the same i nthe US, you have to report cash payments in excess to $10k to the IRS.

http://ec.europa.eu/taxation_customs/individuals/cash-contro...

In Greece they have even extended this to other comodities such as gold and you have to report it regardless if you're moving it or not, otherwise they can freely confiscate it.

http://www.zerohedge.com/news/2015-12-01/greeks-told-declare...

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piaste 3337 days ago
> (At least in the U.S. Do EU citizens have to report themselves for such transactions?)

No, but transactions over X € must be conducted using a traceable medium - cheques, credit cards, bank transfer, sometimes Bitcoin. X varies by country.

Conducting transactions above X € in cash doesn't automatically constitute criminal money laundering, of course, it just gets fined.

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