Each customer who makes large cash withdrawals must justify each transaction to the bank. And this, regardless of whether he is new, known or not to his bank.
The Court of Cassation judged without interest, on November 30, the argument of a client who reproached his banker for being zealous under unjustified conditions and to hinder its activity by asking it each time for a series of supporting documents.
This obligation of the banker is linked the fight against money laundering and terrorism. A customer who had been in the habit of withdrawing cash for years felt that he had sufficiently demonstrated that this mode of operation was not linked to reprehensible activity. He had already provided the supporting documents several times for his cash needs, explained that it was always the same organization and complained about having to explain the same thing each time to declare the origin of the funds or the reasons for the use of cashor even the identity of the beneficiaries in particular.
The banker’s obligations
The banker’s duty of care must be carried out in a reasonable manner, he argued. It is understandable vis–vis a new client or faced with the complex or unusual operations of an old client, but it does not justify interference, or even harassment consisting of systematic checks, he pleaded in substance.
Such arguments are devoid of any interest and do not even deserve a reasoned response, judged the Court of Cassation in rejecting the appeal of this dissatisfied customer.
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The regulations require the banker to report Tracfin, the monitoring unit for suspicious financial flows, any operation that appears to him to be abnormal but also any cash transaction that exceeds 1000 euros or any accumulation of operations relating to 2000 euros per month.
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