This Directive should apply neither to payment transactions made in cash since a single payments market for cash already exists nor to payment transactions based on paper cheques since, by their nature, they cannot be processed as efficiently as other means of payment.

This Directive should apply neither to payment transactions made in cash since a single payments market for cash already exists nor to payment transactions based on paper cheques since, by their nature, they cannot be processed as efficiently as other means of payment.

Seven Member States provide for maximum penalties of imprisonment for Article 2 offences: AT provides for a maximum of five years for counterfeiting, receiving and fraudulent use; CY provides for a maximum of 14 years for counterfeiting payment instruments and seven years for using and acquiring them; DK a maximum of six years for counterfeiting and theft of payment instruments and 18 months for using them; LV ten years for the theft, acquisition and destruction of payment instruments and between 3 and 15 years for counterfeiting, ...[+++]fraudulent use and use of false payment instruments; LT a maximum of six years for using false instruments; NL seven years; PT penalises the acquisition of false payment instruments with three years’ imprisonment, currency trafficking with a maximum of five years, using falsified bearer cheques with six months to five years and falsification with three years (minimum) to twelve years (maximum); in SE there is a maximum of ten years for theft, falsification and receiving, only if the offence is serious (“gross”).

Seven Member States provide for maximum penalties of imprisonment for Article 2 offences: AT provides for a maximum of five years for counterfeiting, receiving and fraudulent use; CY provides for a maximum of 14 years for counterfeiting payment instruments and seven years for using and acquiring them; DK a maximum of six years for counterfeiting and theft of payment instruments and 18 months for using them; LV ten years for the theft, acquisition and destruction of payment instruments and between 3 and 15 years for counterfeiting, ...[+++]fraudulent use and use of false payment instruments; LT a maximum of six years for using false instruments; NL seven years; PT penalises the acquisition of false payment instruments with three years’ imprisonment, currency trafficking with a maximum of five years, using falsified bearer cheques with six months to five years and falsification with three years (minimum) to twelve years (maximum); in SE there is a maximum of ten years for theft, falsification and receiving, only if the offence is serious (“gross”).

(5) This Framework Decision should assist in the fight against fraud and counterfeiting involving non-cash means of payment together with other instruments already agreed by the Council such as Joint Action 98/428/JHA on the creation of a European Judicial Network(5), Joint Action 98/733/JHA on making it a criminal offence to participate in a criminal organisation in the Member States of the European Union(6), Joint Action 98/699/JHA on money laundering, the identification, tracing, freezing, seizing and confiscation of instrumentalities and the proceeds from crime(7), as well as the Decision of 29 April 1999 extending Europol's m ...[+++]andate to deal with forgery of money and means of payment(8).

(b) the financial transaction is a transaction in means of payment in foreign currency (see paragraphs 5.04 and 5.23) and the counterpart transaction is not a transaction in means of payment in national currency: the transaction value is equal to the amount of the means of payment exchanged converted into national currency applying the market rate prevailing when the payment takes place;