From 10 July 2027, new EU anti-money-laundering rules will tighten identification requirements for cash purchases, including transactions involving precious metals. For cash transactions of at least EUR 3,000, obliged entities will have to identify and verify the customer.
The rules come from Regulation (EU) 2024/1624, known as AMLR. They do not ban cash payments above EUR 3,000, but such transactions will no longer be anonymous when carried out with an obliged entity.
EUR 10,000 cash ceiling across the EU
AMLR also introduces an EU-wide maximum cash payment of EUR 10,000 for goods and services, including linked transactions. Member states may maintain or introduce lower limits. Transactions of at least EUR 10,000 with obliged entities will trigger full customer due-diligence requirements regardless of payment method.
The changes are particularly relevant to dealers in precious metals, including gold, silver, platinum and palladium. Customer-identification records and transaction documentation will generally have to be retained for five years.
Crypto-asset service providers face separate and in some respects stricter requirements, including full customer due diligence for occasional transactions of at least EUR 1,000.
The rules do not create a single EU register of all gold buyers and do not prohibit ownership or purchase of investment gold.
