The European Commission has published materials for an information campaign related to the application of the new Regulation (EU) 2018/1672, which refers to the application of the new rules on cash control, which will be fully applied from 3 June 2021 in the Member States.

Regulation (EU) 2018/1672 on controls of cash entering or leaving the Union and repealing Regulation (EC) No 882/2004 1889/2005, which is fully applicable from 3 June 2021, will improve the cash control system, as the new EU legislation reflects the novelties provided by international standards for the prevention of money laundering and terrorist financing of the Working Group on Financial Measures - FATF -a.

The new regulation includes banknotes and coins in the definition of cash (including currency that is no longer in circulation but can still be exchanged at the central bank); checks, traveler's checks, debentures or money orders not bearing the name of the user and coins with a gold content of at least 90% and levers, beads or lumps with a gold content of at least 99.5%.

Source & full text: Croatia Customs