Regulatory Alerts2008-01-01
Enhanced Security Measures for Bulk Cash Transactions
The Bank of Zambia issued Circular 07/2008 to enforce enhanced security protocols for bulk cash transactions involving commercial banks and cash-in-transit providers. The directive mandates the registration of all custodians and CIT vehicles, requiring detailed personal and vehicle data submission along with adherence to specific armouring standards. Institutions must also verify crew details via fax or telephone prior to each transaction and ensure full compliance with these measures by the specified deadlines.
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