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Frankfurt / Berlin (dpa) - The savings banks and cooperative banks are against stricter money laundering rules when paying in cash.
They criticized plans by the financial supervisory authority, Bafin, to require banks to use instructions for use to require written proof of origin for cash deposits of EUR 10,000 or more.
For occasional customers, this should take effect from 2500 euros.
Cash is stigmatized without adding value in the fight against money laundering and terrorist financing, declared the German Savings Banks and Giro Association and the Federal Association of German Volks- and Raiffeisenbanks on Friday.
The required documents can hardly be checked for authenticity by a bank employee.
It is also to be expected that many customers will be unable to provide evidence.
The banks are also often obliged in the account contracts to accept cash as a deposit.
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