Control of the movement of means of payment
All persons, whether acting on their own account or for a third party, must make a PRIOR DECLARATION when they perform the following movements (article 34 of Act 10/2010):
- Withdrawal or entry into national territory of means of payment (paper money, coins or bearer cheques) for an amount of EUR 10,000 or more or its equivalent in foreign currency.
- Movements within national territory of means of payment (paper money, coins or bearer cheques) for an amount of EUR 100,000 or more or its equivalent in foreign currency.
Failure to make such a declaration, or any inaccuracy in the data declared, shall result in seizure of the full amount of the means of payment, except the minimum deemed necessary for survival (up to EUR 1,000).
Failure to comply with the prior declaration duty for means of payment shall be deemed a serious offence, which shall be subject to the following penalties (article 57.3 of Act 10/2010):
A fine of between EUR 600 and double the value of the means of payment seized.
The fine will be gradual, based on:
- The amount of the movement.
- The lack of evidence of the legal source of the money.
- The lack of consistency between the bearer's activity and the value of the movement.
- The intention to hide the money.