Germany, Vietnam central banks discuss cash management

The German and Vietnamese central banks Monday compared notes on how to prevent counterfeiting and laundering of money.

Jens Fuhrmann of the Bundesbank said in the European Union, inflow of cash into banks is closely monitored while their outflow is fairly free.

Cash payments accounted for around 34 percent of all payments in the bloc in 2006, he said.

Any cash inflow of more than €15,000 (US$19,290) into banks is checked for source and beneficiary to prevent illegal transactions, he said.

ATM cards are one of the best methods to manage the circulation of cash, he added.

Minh Quang

vietnamnet

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