The government has increased the limit of a currency transaction report under the Anti-Money Laundering Act from Rs2 million to Rs3 million.
In a notification issued by the Ministry of Finance on Friday, a report will have to be submitted to financial monitoring units on at least Rs3 million of transaction, while banks will have to report on over Rs3 million of transaction.
The National Executive Committee Anti-Money Laundering and Counter-Financing Terrorism gave the approval.
The notification will come into effect immediately.
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