Banks to report cash transactions above RM25,000 starting 2019

BANKS must report any cash transactions exceeding RM25,000 in their daily cash threshold report from January 1, 2019, a 50% reduction from the current RM50,000 limit.

Bank Negara Malaysia Governor Nor Shamsiah Yunus said despite the advancements made in e-payments, the use of cash among the public and small and medium-sized businesses remains high.