As from 15 June 2007 the Regulation (EC) No. 1889/2005 of the European Parliament and of the Council on controls of cash entering or leaving the Community (No. 1889/2005, Official Journal L 309, 25. 11. 2005) shall apply.  The Regulation provides  uniform controls of money (cash or its equivalents) transfers in all 27 member states.

All travellers entering or leaving the EU with € 10 000 or more in cash or its equivalent in other currencies or easily convertible assets (e. g. bonds, shares, traveller’s cheques) must declare the sum to Customs in order to comply with the Regulation. This initiative is introduced to assist the efforts made at EU level to tackle crime and improve security by cracking down on money laundering, terrorism and criminality.

Considering that before 1 May 2004 this area had already been covered by national laws and provisions (Act on Foreign Exchange Transaction, Act on Money Laundering Prevention) in the  Republic Slovenia, the Regulation brings no special novelties. However, let us put out the substantial ones, as follows:

• reduction of the limit from EUR 12,519.00 to 10,000.00 EUR;
• travellers may communicate to the Customs a declaration in writing (completed on a common declaration form [PDF-119KB]) and ask for certified copy of the declaration;
• the declaration includes, along with existing data (details of the traveller – declarant, the owner of the cash, the amount and nature of the cash, and intended use of the cash), .... details of intended recipient of the cash, the provenance of the cash, the transport route and the means of transport.

The obligation to declare shall not have been fulfilled, if the information provided is incorrect or incomplete. In this case the cash could be detained or seized and you could be subject to penalties.

The following Europen Commission website gives background information and contains links to sites on individual Member States.