In France we have Tracfin, an institution that tracks the movement of money.
Once you make a transaction over 10k€, the bank has to report it and request from you the reason of the transfer and where the money comes from (initially). They cannot block the transfer but they have several flags attached to the report where they can hint that the transfer is illegal.
You buy a house and transfer the money to the notary? No problem.
You receive money from the UE, there is some explanation do but not that much.
You receive money from a shady place, or send to one (the definition of "shady" is up to the bank and Tracfin), you will need to explain really carefully the move, and you will be on a list.
All in all this is fine, the real problem is if you get into a situation where you are OK but your explanations are not - then you are in trouble.
Once you make a transaction over 10k€, the bank has to report it and request from you the reason of the transfer and where the money comes from (initially). They cannot block the transfer but they have several flags attached to the report where they can hint that the transfer is illegal.
You buy a house and transfer the money to the notary? No problem.
You receive money from the UE, there is some explanation do but not that much.
You receive money from a shady place, or send to one (the definition of "shady" is up to the bank and Tracfin), you will need to explain really carefully the move, and you will be on a list.
All in all this is fine, the real problem is if you get into a situation where you are OK but your explanations are not - then you are in trouble.