Banks to report cash transactions above RM25k as at Jan 1, 2019

  • Banking
  • Tuesday, 30 Oct 2018

KUALA LUMPUR: As at Jan 1, 2019, banks must report any cash transactions exceeding RM25,000 in their daily cash threshold report, a reduction from the current RM50,000 limit.

Bank Negara Malaysia Governor Datuk Nor Shamsiah Yunus said despite the advancements made in epayments, the use of cash among the public and small and medium-sized businesses remains high.