The Federation of Consumer Organizations (VZBV) has criticized Interior Minister Nancy Faeser's (SPD) push for a general upper cash limit. "The state must take effective measures against money laundering, there is no question about that," said Dorothea Mohn, head of the financial market team at VZBV, the "Handelsblatt". "But it is not good to place cash users under general suspicion and restrict their actions."
With a view to fighting organized crime, Faeser had spoken out in favor of introducing a limit on cash payments of 10,000 euros.
The money laundering expert of the SPD parliamentary group, Sebastian Fiedler, defended the initiative of the interior minister. "Technically, there is not the slightest doubt that the introduction of a general cash limit is a very effective tool to make money laundering more difficult," he told the "Handelsblatt".
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