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
Keep your mask close

Wearing of masks behind closed doors has been mandatory following the government’s August decision that the public was freed from masking in outdoor spaces.According to a press statement from the ministry, all other remaining COVID-19 protocols such as social distancing in schools and requirements for vaccination or PCR tests at ports of entry have also been relaxed.Statistics still show that hundreds still die daily due to the pandemic around...

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