On Monday, the French government announced a number of measures to combat fraud in the country.
Among the many measures desired by the government, is the wish to lower the maximum value for cash transactions. Currently the maximum amount for a cash purchase is 3,000 euros. If the prime minister’s plans go ahead, this amount would be lowered to €1,000.
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France is a country where cash is still very much present, so this measure could have a big impact on consumers.
The Prime Minister also mentioned the new European proposals on money laundering, which he said would be observed closely by the government. Mr. Ayrault also defended the adoption of a national all-encompassing anti-fraud legislation pack before the end of June. The legislation is to focus on money laundering, cross-border fraud, and fiscal fraud.
Mr. Ayrault also called on the need for regulation in the banking sector. Today, the government will be debating a banking law which, if passed, will oblige banks to report on their international activities, particularly those taking place in tax havens.
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