Cap on Cash Transactions Reduced to EUR 5,000
The government argues that the legislative change will enable better oversight of cash flows from individual businesses and facilitate investigation into the origin of unlawfully gained assets and their potential later seizure or confiscation.
According to Finance Ministry State Secretary Mitja Mavko, the change should not create any extra administrative burden on the transactions of legal entities and individuals.
Jožef Horvat of the opposition New Slovenia (NSi) begged to differ, arguing that the clients would have to pay a commission for the payment. He also noted that the cap on cash transactions in the EU is EUR 15,000, while "those who launder money talk millions".