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4mo ago

French Government Shelves Proposal to Abolish Cash in Drug Trafficking Fight

Justice Minister Gérald Darmanin's suggestion to end cash transactions faces political and legal hurdles, including conflicts with EU law.

Narcotrafic: «L'une des réponses, c'est la suppression de l'argent liquide», affirme Gérald Darmanin
Auditionné jeudi 22 mai par la commission d’enquête sénatoriale sur la délinquance financière, le garde des Sceaux a plaidé pour la fin de l’argent liquide pour lutter contre le trafic de drogue.
En février dernier, la Banque de France annonçait que 48% des transactions en point de vente avaient été effectuées par carte bancaire, sur l’année 2024.
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Overview

  • Justice Minister Gérald Darmanin proposed eliminating cash to disrupt drug trafficking networks and enhance financial traceability.
  • The proposal was publicly shelved after a government spokesperson clarified it is not on the official agenda and contradicts EU treaties.
  • Darmanin acknowledged the lack of political support and practical feasibility for implementing the measure in the near term.
  • Cash remains widely used in France, accounting for 43% of transactions in 2024, despite existing regulations capping payments at €1,000.
  • The French government continues its broader anti-narcotrafic strategy, which includes specialized courts, high-security detention regimes, and enhanced asset seizure powers.