Amsterdam wants shop owners to report cash payments over €1,000

Shop keepers in Amsterdam who receive large amounts in cash as payment from customers, will soon have to report it to the municipality. That is one of the measures Amsterdam mayor Femke Halsema announced in the city's fight against undermining crime, RTL Nieuws reports.

Retailers already have to report unusual transactions if they receive cash payments of more than 10 thousand euros. Halsema wants to lower that amount to 1 thousand euros. The mayor hopes that this will help in the fight against money laundering, which is often a companion to more serious crimes.

Officials in Amsterdam will also receive training to better recognize the mixing of the upper and underworld. And hotels will be better monitored for abuses. "Only together can we guarantee that Amsterdam remains a free city; a resilient city", Halsema said in a letter to the Amsterdam city council.