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7 Amendments of Engin EROGLU related to 2021/0239(COD)

Amendment 148 #
Engin EROGLU
Proposal for a regulation
Recital 14
(14) Directive (EU) 2015/849 set out to mitigate the money laundering and terrorist financing risks posed by large cash payments by including persons trading in goods among obliged entities when they make or receive payments in cash above EUR 10 000, whilst allowing Member States to introduce stricter measures. Such approach has shown to be ineffective in light of the poor understanding and application of AML/CFT requirements, lack of supervision and limited number of suspicious transactions reported to the FIU. In order to adequately mitigate risks deriving from the misuse of large cash sums, a Union-wide limit to large cash transactions above EUR 10 000 should be laid down. As a consequence, persons trading in goods should no longer be subject to AML/CFT obligations.
2022/07/04
Committee: ECONLIBE
Amendment 244 #
Engin EROGLU
Proposal for a regulation
Recital 94
(94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or more. At the same time, differences in approaches among Member States have undermined the level playing field within the internal market to the detriment of businesses located in Member States with stricter controls. It is therefore necessary to introduce a Union-wide limit to large cash payments of EUR 10 000. Member States should be able to adopt lower thresholds and further stricter provisionsenforce anti-money laundering rules across the EU.
2022/07/04
Committee: ECONLIBE
Amendment 250 #
Engin EROGLU
Proposal for a regulation
Recital 95
(95) The Commission should assess the costs, benefits and impacts of lowering the limit to large cash payments at Union level with a view to levelling further the playing field for businesses and reducing opportunities for criminals to use cash for money laundering. This assessment should consider in particular the most appropriate level for a harmonised limit to cash payments at Union level considering the current existing limits to cash payments in place in a large number of Member States, the enforceability of such a limit at Union level and the effects of such a limit on the legal tender status of the euro.deleted
2022/07/04
Committee: ECONLIBE
Amendment 916 #
Engin EROGLU
Proposal for a regulation
Article 59
(1) Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR 10 000 or equivalent amount in national or foreign currency, whether the transaction is carried out in a single operation or in several operations which appear to be linked. (2) Member States may adopt lower limits following consultation of the European Central Bank in accordance with Article 2(1) of Council Decision 98/415/EC57. Those lower limits shall be notified to the Commission within 3 months of the measure being introduced at national level. (3) When limits already exist at national level which are below the limit set out in paragraph 1, they shall continue to apply. Member States shall notify those limits within 3 months of the entry into force of this Regulation. (4) The limit referred to in paragraph 1 shall not apply to: (a) payments between natural persons who are not acting in a professional function; (b) payments or deposits made at the premises of credit institutions. In such cases, the credit institution shall report the payment or deposit above the limit to the FIU. (5) Member States shall ensure that appropriate measures, including sanctions, are taken against natural or legal persons acting in their professional capacity which are suspected of a breach of the limit set out in paragraph 1, or of a lower limit adopted by the Member States. (6) The overall level of the sanctions shall be calculated, in accordance with the relevant provisions of national law, in such way as to produce results proportionate to the seriousness of the infringement, thereby effectively discouraging further offences of the same kind. _________________ 57 Council Decision of 29 June 1998 on the consultation of the European Central Bank by national authorities regarding draft legislative provisions (OJ L 189, 3.7.1998, p. 42).Article 59 deleted Limits to large cash payments
2022/07/05
Committee: ECONLIBE
Amendment 923 #
Engin EROGLU
Proposal for a regulation
Article 59 – paragraph 1
(1) Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR 10 000 or equivalent amount in national or foreign currency, whether the transaction is carried out in a single operation or in several operations which appear to be linked.deleted
2022/07/05
Committee: ECONLIBE
Amendment 932 #
Engin EROGLU
Proposal for a regulation
Article 59 – paragraph 2
(2) Member States may adopt lower limits following consultation of the European Central Bank in accordance with Article 2(1) of Council Decision 98/415/EC57. Those lower limits shall be notified to the Commission within 3 months of the measure being introduced at national level. _________________ 57 Council Decision of 29 June 1998 on the consultation of the European Central Bank by national authorities regarding draft legislative provisions (OJ L 189, 3.7.1998, p. 42).deleted
2022/07/05
Committee: ECONLIBE
Amendment 948 #
Engin EROGLU
Proposal for a regulation
Article 63 – paragraph 1 – point b
(b) further lowering the limit for large cash payments.deleted
2022/07/05
Committee: ECONLIBE
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