Matthew 24:7 Then he said to them: “Nation will rise against nation, and kingdom against kingdom. There will be great earthquakes, famines and pestilences in various places, and fearful events and great signs from heaven.”
French officials have announced they will increase monitoring of cash payments and small bank accounts in an attempt to stop the funding of homegrown terrorists.
Finance Minister Michel Sapin said that after the Islamic terrorist attacks that killed 17 people it was necessary to “fight against the use of cash and anonymity in the French economy.”
“It’s a terrorism that is low cost to carry out but has major impact,” Sapin told a news conference. “This low-cost terrorism feeds on fraud, money laundering and petty trafficking.”
The biggest change is that French account holders will not be allowed to make deposits of more than 1,000 euro in cash, down from 3,000 euro. Foreign visitors had a higher cap of 15,000 euro but that will be cut to 10,000. This is done for the benefit of tourism.
The government will also require anyone trying to exchange more than 1,000 euros in cash into other currencies to show an identity card. And if more than 10,000 euros are transferred the government will be notified.
