Thursday, 07 Nov 2019 05:11 PM MYT
“This is to address the abuse of physical cash used for illicit activities,” Bank Negara Malaysia deputy governor and chairman of the National Coordination Committee to Counter Money Laundering , Datuk Abdul Rasheed Ghaffour said. “However, there are two important exemptions to note. Firstly, any cash transactions to or with financial institutions are exempted. As regulated entities, these institutions are already subjected to stringent anti-money laundering or counter-terrorism financing requirements.
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