So apparently the EU is taking the next step towards completely monitoring everything it's citizens do 24/7.
https://ec.europa.eu/eusurvey/runner...veylanguage=EN
The Commission published on 2 February 2016 a Communication to the Council and the Parliament on an Action Plan to further step up the fight against the financing of terrorism. The Action Plan builds on existing EU rules to adapt to new threats and aims at updating EU policies in line with international standards. In this context reference is made to exploring the relevance of potential upper limits to cash payments. The Action Plan states that "Payments in cash are widely used in the financing of terrorist activities. …. In this context, the relevance of potential upper limits to cash payments could also be explored." In its Conclusions on the fight against terrorism, the Economic and Financial Affairs Council of 12 February 2016 concurred that the Commission should explore the need for appropriate restrictions on cash payments exceeding certain thresholds.
Cash is still the most efficient and accessible means of payment and it also offers anonymity. Although such anonymity may be desired for legitimate reason (e.g. protection of privacy) it can be misused for money laundering and terrorist financing purposes. The possibility to conduct large cash payments facilitates money laundering and terrorist financing activities because of the difficulty to monitor and track cash payment transactions. While a number of Member States already have (or have had) in place restrictions on cash payments as a measure to combat crime, this has not been addressed at Union level. The fragmentation and divergent nature of these measures may have the potential of interfering with the proper functioning of the internal market, which if is the case, could justify action at Union level.
Potential restrictions on cash payments would be a means to fight criminal activities entailing large transactions in cash by organised criminal networks. Restricting large payments in cash, in addition to cash declarations and other anti-money laundering obligations, would hamper the operation of terrorist networks, and other criminal activities, i.e. have a preventive effect. It would also facilitate investigations by removing the anonymity and lack of traceability of cash. Effective investigations are hindered as cash payments transactions are anonymous. Thus restrictions on cash payments would facilitate investigations.
As cash and cash transactions are often considered a personal freedom, collecting the view of citizens, businesses, public authorities and associations is essential prior to any action in this domain. This includes views on whether existing national measures lead or could lead to an interference with the proper functioning of the internal market.
Survey is up until 31 May 2017
What's your opinion, do you think controlling hundrets of millions of peeps payments will be beneficial or harmful?