Cash Transaction Limit (CTL) : What You Need to KnowRelease Date: 09 Nov 2019
The National Coordination Committee to Counter Money Laundering (NCC) proposes a cash transaction limit (CTL) as an additional deterrent and complements existing financial integrity measures to further mitigate the abuse of cash for illicit activities.
Once in effect, physical cash transactions above the limit will need to be made electronically, by cheque or through the banking systems.
Familiarise yourself with the CTL so that you will be able to provide your feedback upon the release of the full consultation paper.
Learn more about the CTL and scenarios you may encounter when making cash transactions:
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