Malaysia to impose cash transaction limit of RM25,000 next year

KUALA LUMPUR (Bernama): Malaysia is planning to impose a cash transaction limit (CTL) of RM25,000 starting next year to further strengthen the country’s financial integrity and curb illicit activities.

"This is to address the abuse of physical cash used for illicit activities,” Bank Negara (BNM) deputy governor and chairman of the National Coordination Committee to Counter Money Laundering (NCC), Datuk Abdul Rasheed Ghaffour said.