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Comment by throwaway290 | Hacker News Reader

Most countries have limits on the amount of cash transaction (for good reasons) (EDIT: or bad reasons if you don't like the government :shrug:) but I have not heard of carry limits and seizures like that... Maybe in those countries they count on the fact that if a transaction is too large both sides risk that the other one will snitch to law enforcement?

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What are the good reasons? I can understand one party not wanting to deal with a large amount of cash. But the government shouldn't have any say in how much cash you use.

Usually such restrictions are defended as being necessary to ensure the government gets their cut of the action and to keep criminals from being able to easily handle the fruits of their law breaking.

It's mostly for money laundering reasons.

Probably to force people keep money in the bank where all transactions are visible to the govt and arresting the money requires just several clicks.

Or you know so that if someone kidnaps your wife and gets a mil in ransom or sells enough hard drugs to kids he can't just go buy a yacht and casually sail away to Fiji

In that scenario, where your wife is dead if you don't pay the ransom, is it good that the government stops you from paying the ransom?

Maybe, because if the government stops everyone from paying ransoms, there is no point demanding a ransom. The person whose wife is being held as a hostage probably won't see it that way.

> is it good that the government stops you from paying the ransom

The government does not hover a drone with you at all times that counts your cash and stops you. But are two sides to every transaction. if transaction breaks the law any side can go to the law enforcement. Depending on country they may get a bonus for this too.

Now please picture me how your wife's kidnapper goes to the police saying that the ransom you paid exceeded $10k.

Crimes are brought by the government once it discovers the crime, not by anyone. Anyone can provide evidence to the government that a crime was committed.

Correct. Now please picture me how your wife's kidnapper goes to the police saying that the ransom you paid exceeded $10k.

Someone who did a much more serious crime is not gonna go to law enforcement because his ass is going to be the one charged considering the circumstances.

But if a massive cash transaction is illegal good luck kidnapper doing stuff with a bulk of ransom money. Hey it may even put him off that whole kidnapping idea yeah? Or at least get him caught so he doesn't kidnap more people somewhere else

I’ve never heard of a legal limit for paying in cash. The AML rules require people to have an explanation of where the cash comes from, but there’s no limit on it. Of course there’s no requirement to accept cash except in the case of paying a debt.

Here in New Zealand there are maximum limits on the number of coins you can use so paying your tax with a truckload of 10¢ coins is illegal, but if you use $100 notes you can use as many as you like.

EU max limit is 10k

in Russia max limit is 1k EUR equivalent https://base.garant.ru/58074419/#:~:text=%D0%9F%D1%80%D0%B5%...).

apparently in NZ 10k limit is only for some transactions https://www.dia.govt.nz/AML-CFT-High-value-dealers-Prohibite... hope you didn't pay in cash more than that for a boat recently;)

France max limit for individuals purchasing from professionals or businesses is 1k EUR except for a few edge cases.

https://www.service-public.fr/particuliers/vosdroits/F10999

Huh, I failed to find the NZ page. My search skills must be getting rusty... thanks for the link!

For entering or leaving the country. Was this case an internal flight? If so then what money an individual has in their possession is their business, and nobody else's.

For entering or leaving there's customs... this is something different

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