Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-06-07-Speech-2-332"
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"en.20050607.29.2-332"2
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".
First of all I should like to express my thanks to the rapporteur, Mr Peillon, for his clear analysis of the common position of the Council and the conclusions he draws from it. I am very pleased to note that his report shares the view of the Commission that the Union urgently needs a common, effective and balanced approach to the monitoring of large-scale cross-border cash movements.
I also share Mr Peillon’s view that you are now being presented with a proposal which is clearer and more practical than its predecessor. I believe that the adoption of this proposal will provide the Community with a solid measure to enable customs to control significant amounts of cash entering or leaving the Community.
Member States’ experience shows that cash is being used to avoid controls on transfers by the financial institutions. Cash movements are also an easy means of moving terrorist funding. Criminals are helped by the fact that we have varying levels of national controls to check suspect cash movements. We therefore need these measures to complement the existing money laundering controls to remove the possibility for criminals and terrorists to use this gap in controls.
The proposal sets out a control mechanism and reporting rules, which require anyone entering or leaving the Community with more than EUR 10 000 in cash to declare the sums carried to customs. Failure to declare or the provision of false information will require Member States to verify the bona fides of the movement and take further action as necessary.
The proposal also sets out a reporting mechanism to ensure that information obtained is handled and exchanged efficiently and with due care. In addition, this proposal will also help the legitimate traveller by replacing the existing wide range of national approaches with a clear, simple and straightforward Community system. I therefore believe that the proposal you have before you today will close existing loopholes and reinforce our actions to combat terrorism and organised crime.
The straightforward system proposed means that this will be done without placing an undue burden on the traveller or the national administrations concerned. I accordingly look forward to your support for its adoption as soon as possible."@en1
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