This document is an extension of  the communication document dated February 2016 (COM-2016/50) and updated to include new rules.

The policy looks to the "Regulation on the controls of cash entering or leaving the Community  and relevance of potential upper limits to cash payments." The Action Plan states that "Payments in cash are widely used in the financing of terrorist activities." In its conclusions on the fight against terrorism, the Economic and Financial Affairs Council of 12 February 2016 called on the Commission "to explore the need for appropriate restrictions on cash payments exceeding certain thresholds. In particular the Proposal for an amendment of the Anti-Money Laundering Directive2 (COM (2016) 450), which introduced stricter transparency rules and other measures targeted specifically at terrorism financing. Furthermore, the initiative should be seen in conjunction with the ECB's decision of 4 May 20163 to discontinue the production of the EUR 500 banknote and stop the issuance of this denomination by around 2018 to address concerns that these notes could be used in financing illicit activities."