When cash is no longer king

The move to introduce the CTL was to safeguard and strengthen the integrity of the country’s financial system. The central bank noted that it was imperative to have a safeguard in place in the form of the CTL in view of the risks of money laundering and financial crime.

PETALING JAYA: Malaysia is exploring the implementation of a cash transaction limit (CTL) by next year as one of the measures to combat the rising cases of money laundering and financial crime.

During the annual report and the financial stability and payments system report briefing in March, the governor of the central bank announced that it would continue to look at measures to safeguard the integrity of the financial system against threats posed by money laundering and terrorism financing.