New norms of import and export of money across EU border come into power

New norms of import and export of big sums of money across the European Union border came into power on June 15. The news service of the EU representative office in Ukraine and Belarus has informed about it. From now on people entering or leaving the territory of the European Union will have to declare sums bigger that 10 thousand euro. It does not matter whether the money is transported in banknotes or checks.

According to the new rules, EU customs services have the right to look through the luggage of people crossing the EU border and detain any undeclared money.

The main purpose of the introduction of these rules is prevention of financing of illegal activities, especially terrorism.