Greetings, dear cash carriers and luxury lovers! Hold on to your wallets, because the European Parliament has just pulled off a circus in financial legislation. To stop money laundering, the Parliament has decided to close cash registers for purchases over €10,000. No more secretly exchanging cash for that diamond-studded tiara or swanky sports car!

But wait, there’s a twist to the tale! While they’re busy locking up the expensive items, they seem to have overlooked the second-hand market. So if you’ve got a pile of cash in your pocket and are hankering for a pre-owned luxury piece, you might be in luck! After all, who needs a money trail when you’ve got an old Rolex to show for it?

In the meantime, a superhero headquarters is being set up in Frankfurt – sorry, I mean a “centre for the prevention of money laundering” cue dramatic music! This fortress of financial strength is tasked with thwarting the nefarious plans of Russian oligarchs trying to circumvent sanctions. Make way, Avengers – it’s time for the Money Laundering League to save the day!

Copyright AP Photo

But the real scoop comes from a humble family on welfare in Germany. After making a pilgrimage to Mecca, they came under the scrutiny of financial regulators. Apparently their funds for this religious trip raised more eyebrows than a one-eyed pirate on a treasure hunt! Although they protested their innocence and claimed to have received gifts worth 62,000 euros from generous neighbours, they soon discovered that social welfare doesn’t quite stretch as far as their pilgrimage dreams.

So what’s the moral of this slapstick saga? Well, it seems that even in the serious world of financial legislation, there’s always room for a few laughs. But behind the comedy lies a deeper question: how do we navigate the murky waters of money management while balancing the scales of justice and equality? As we ponder this conundrum, let’s not forget to laugh at the absurdities along the way. After all, laughter is perhaps the best currency of all!

Source 

https://www.euronews.com/business/2024/01/18/lawmakers-look-to-new-anti-money-laundering-law-to-repair-eus-poor-reputation

https://www.euronews.com/business/2023/12/06/cash-bans-golden-visa-checks-eu-cusp-new-money-laundering-rules