KARACHI: The State Bank of Pakistan on Thursday increased the Currency Transaction Report (CTR) threshold to Rs3 million, effective immediately.
Earlier, the threshold was Rs2m as specified in the FinancialMonitoring Unit (FMU) Guidelines for Reporting Entities 2021.
Under the revised threshold, reporting entities are required to report only cash transactions meeting the notified amount to the FMU.
Under the Anti-Money Laundering Act 2010, all CTRs must be filed with the FMU immediately, but not later than seven working days after the transaction.
The SBP said complete, accurate and updated information in CTRs filed by regulated entities was essential to develop quality financial intelligence reports.Staff Reporter