On 21 December 2016 the European Commission proposed to extend the existing controls on amounts of cash entering or leaving the Union equal to, or in excess of 10.000 euros.
- The measures will extend cash controls to unaccompanied cash such as cash sent in postal parcels or freight consignments and
- To precious commodities such as gold, which serve as 'quasi-cash' and are used to circumvent the obligation to declare.
- The proposed changes will improve the exchange of information between competent authorities at national level and between Member States
- And allow them to act on amounts lower than the declaration threshold, provided that there are indications of criminal activity