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Taxation and Customs Union

Why this obligation?

The establishment of a common cash control strategy was a decisive step in the EU policy aimed ensuring the the safety and security of our citizens by strengthening measures which prevent money laundering, terrorist financing and other illegal activities.

These measures also regulate transactions through the formal financial sector (for example, banks).

EU strategy to combat money laundering
EU strategy counter the financing of terrorism.

Financial Action Task Force on Money Laundering
Free circulation of Capital in the EU