The German government is considering introducing a limit of 5,000 euros ($5,450) on cash transactions in an effort to combat money laundering and financing of terrorism.
Deputy finance minister Michael Meister said Wednesday that Germany would like to see a European solution, but could introduce a national limit if none is achieved, news agency dpa reported. He said "we can imagine a level of 5,000 euros."
Meister said there's "the risk of terror financing and we also have the problem of how to clear up money-laundering offenses properly" when large transactions are conducted anonymously.
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