A welcome move on money laundering

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AccountingWEB has reported that:

HMRC has announced that from 15 June 2007, if you are travelling to or from a country outside the European Union (EU), you will need to declare any sums of cash of 10,000 Euro or more (or the equivalent in another currency) to HM Revenue & Customs (HMRC).

The relevant forms to make the disclosure are available at airports and ports, but the term 'cash' covers:
- currency notes and coins
- bankers' drafts
- cheques of any kind, including travellers' cheques.

You can hear the squeals of protest already arising, but this has to be good news.