this post was submitted on 24 Jul 2024
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Privacy

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EU limits anonymous cash payments to €3k and all cash payments to €10k. Pirate party reacts. (www.evz.de)
submitted 3 months ago* (last edited 3 months ago) by [email protected] to c/[email protected]
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cross-posted from: https://slrpnk.net/post/11683880

cross-posted from: https://slrpnk.net/post/11683421

The EU has quietly imposed cash limits EU-wide:

  • €3k limit on anonymous payments
  • €10k limit regardless (link which also lists state-by-state limits).

From the jailed¹ article:

An EU-wide maximum limit of €10 000 is set for cash payments, which will make it harder for criminals to launder dirty money.

It will also strip dignity and autonomy from non-criminal adults, you nannying assholes!

In addition, according to the provisional agreement, obliged entities will need to identify and verify the identity of a person who carries out an occasional transaction in cash between €3 000 and €10 000.

The hunt for “money launderers” and “terrorists” is not likely meaningfully facilitated by depriving the privacy of people involved in small €3k transactions. It’s a bogus excuse for empowering a police surveillance state. It’s a shame how quietly this apparently happened. No news or chatter about it.

¹ the EU’s own website is an exclusive privacy-abusing Cloudflare site inaccessible several demographics of people. Sad that we need to rely on the website of a US library to get equitable access to official EU communication.

update

The Pirate party’s reaction is spot on. They also point out that cryptocurrency is affected. Which in the end amounts to forced banking.

#warOnCash

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[–] [email protected] 12 points 3 months ago (1 children)

You're missing the point. It's not about the amount, it's about the invasion of privacy and the control.

[–] [email protected] 3 points 3 months ago (2 children)

Ok then please tell me how that affects your privacy, and what level of control it gives someone?

[–] [email protected] 2 points 3 months ago (1 children)

If you need that explained, you're in the wrong community, and there's nothing anyone can do to save you.

[–] [email protected] 1 points 3 months ago (1 children)

So you don't have an answer, that's what I thought.

[–] [email protected] 1 points 3 months ago* (last edited 3 months ago)

@youmaynotknow is spot on. But consider this a very basic primer on just a small fraction of privacy abuse by banks:

So there’s 22 privacy abuses by banks to get you started. And that just barely scratches the surface.

You can somewhat ignore paragraphs 15 and 23 in terms of privacy. OTOH privacy is hand-in-hand with control and paragraphs 15 & 23 reflect control being in the wrong hands.

[–] [email protected] 1 points 3 months ago

Banks abuse our privacy in countless ways. This could fill a book. This policy amounts to forced banking. I boycott banks. Banks have us by the balls and they abuse that power. A bank recently told me (in effect) to fuck off if I don’t have a mobile phone number to give them.