Banks Must Report Cash Above Rs. 3 Million

Banks in Pakistan must now report cash transactions above Rs. 3 million, up from Rs. 2 million, under revised anti-money laundering rules. The cash transactions threshold is a mandatory reporting line for banks, and the new figure is Rs. 3 million.

The government has also brought the virtual assets regulator and maritime piracy provisions into the AML framework. The update names those two additions and does not set out the rest of the provisions.

What the new cash transactions rule changes

The old reporting line was Rs. 2 million. The new line is Rs. 3 million. It applies to banks, and it sits under revised anti-money laundering rules. Alongside that change, the virtual assets regulator and maritime piracy provisions are now part of the AML framework.

Our verdict

Bank cash reporting now starts at Rs. 3 million instead of Rs. 2 million. The same revision pulls in the virtual assets regulator and maritime piracy provisions, without detailing the rest of that text.

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