Regulatory Alerts2003-01-01
CB Circular 02/2003: Enhanced Security Measures for Commercial Bank Bulk Cash Transactions
The Bank of Zambia mandates enhanced security protocols for commercial banks conducting bulk cash transactions to and from its premises. Banks must register all custodians, messengers, and cash-in-transit vehicles with the Security Division by January 31, 2003, utilizing designated entry points and providing biometric data for electronic verification. Additionally, all registered cash-in-transit vehicles must comply with strict minimum armouring standards, including 4mm steel plating and tyre locks, by October 1, 2003.
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