LIMITS ON CASH PAYMENTS – BE CAREFUL!

This reminder applies especially to the M&E Organizers and Front Office teams of all the hotels in all Business Units

Did you know that compliance with the Fourth Anti Money Laundering Directive* is mandatory in all EU countries? It affects you in terms of cash collections that cannot exceed the thresholds set in each country.

The acceptance of payments in cash up to the maximum limit of the country is on the total amount of the provision of the service (in spite of the fact that split/deferred payments are agreed).

Watch out! Penalties for breaching the limits in cash are 25% of the amount paid.

If you want to know what limit applies in your country, click on Read More.

*Directive 2015/849 of 20th May 2015 on the Prevention of the Use of the Financial System for the Purposes of Money Laundering or Terrorist Financing