WEALTH February 24, 2026 0 Comments

Unlock the Hidden Impact: How the New AML Cash Ban Could Reshape Your Business Overnight—Are You Ready to Thrive or Crash?

Ever wondered what happens when your wiggle room for cash payments suddenly slams shut at €10,000? Well, buckle up—starting 2027, businesses dealing in big-ticket items like cars, jewelry, and yachty toys won’t be able to take piles of cash from a single customer anymore. Yup, the EU’s rolling out its sixth Anti-Money Laundering Directive, waving goodbye to many familiar cash transactions and ushering in tighter rules that’ll make you think twice before flashing a wad. It’s not just about counting banknotes anymore—cash payments over €3,000 now come with mandatory ID checks, and crypto moves above €1,000 get the same eagle eye. This reform isn’t just a tweak; it’s a full-on makeover shaking up how Ireland—and all of Europe—handles its high-value commerce. The warning? Businesses that drag their feet on adapting could face serious headaches down the line. Curious how this will flip the script on your business or buying habits? Dive deeper and get ahead of the curve. LEARN MORE

Businesses selling high-value goods will no longer being able to accept more than €10,000 in cash from a single customer under new EU anti-money laundering (AML) rules.

From 2027, under the EU’s sixth Anti-Money Laundering Directive and the new Anti-Money Laundering Authority (AMLA) framework, customers will be prohibited from making cash payments exceeding €10,000 for goods.

Any cash transaction above €3,000 also triggering mandatory identity verification checks.

The reforms represent an EU-wide crackdown on the use of large cash payments and tighter oversight of cryptocurrency transactions, with full customer identification required for crypto transfers over €1,000.

ACCA Ireland has warned that the rule change will fundamentally reshape how large purchases are made in Ireland and urged businesses selling goods such as cars, jewellery, boats and art to prepare now.

Under the directive, high-value goods will be defined as jewellery, gold- or silversmith articles, clocks and watches of a value exceeding €10,000, motor vehicle of a price exceeding €250,000, and aircraft or watercraft exceeding €7.5m.

Stephen Noonan, head of ACCA Ireland, said the reforms represent a “decisive shift” in how high-value transactions are regulated.

“From 2027, businesses simply will not be able to accept more than €10,000 in cash. That is a major operational change for some sectors,” he said.

“These AML reforms mark a decisive shift in how cash, crypto and high-value transactions are regulated not just in Ireland but across Europe. Businesses that fail to prepare early risk significant operational disruption and regulatory exposure.

“For many businesses, this will require a rethink of long-standing practices around cash payments, customer onboarding and record-keeping. Those that act now will be best placed to adapt smoothly.”

AML — Jewellery exceeding €10,000 in value will be considered high-value items under new EU rules.

Consumers can also expect greater scrutiny. Opening or maintaining bank and credit union accounts will involve more detailed personal data checks, while buyers and sellers of cryptocurrency will face strengthened anti-money laundering and counter-terrorist financing controls.

ACCA has warned that while the measures are designed to combat organised crime and protect the integrity of Europe’s financial system, if businesses are unprepared, they will feel the impact of the loss of large, one-off transactions.

Photo: Stephen Noonan. (Pic: Supplied)