IslamabadCash transactions under Rs3 million no longer trigger bank reports.

Until now banks sent the State Bank’s Financial Monitoring Unit every cash transaction of Rs2 million or more.

The National Executive Committee on anti-money laundering approved the change, and banks still file suspicious-transaction reports whatever the amount.

Finance Minister Muhammad Aurangzeb wants a roadmap with set timelines to strengthen the monitoring unit.

How each outlet framed it
Dawn
gives the Rs2m-to-Rs3m CTR threshold change a 50% jump and places it under the NEC's AML-CFT gazette authority

Sources: Dawn