the monitor

The ugly side of cash transactions

Lame Seribe
Lame Seribe

Every jurisdiction has a cash threshold limit as per its risk-based matrices to ensure that measures to mitigate Money Laundering, Terrorist, and Proliferation Financing (ML/TF/PF) are within the national risk appetite.

The cash threshold refers to the total amount that an individual or entity can receive, carry around, or payout in the form of cash.

Cash transaction makes the first stage of money laundering known as Placement practical.

Editor's Comment
Our digital safety is in our hands

That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...

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