Regulatory Alerts2022-09-01
Added · Updated
Bank of South Sudan Guidelines for Reporting Large Cash Transactions (Amended 2022)
The Bank of South Sudan mandates all commercial banks and non-banking financial institutions to report single or aggregate cash transactions, including foreign exchange, that equal or exceed USD 10,000. Institutions must submit written declarations within five days, enforce strict Know Your Customer procedures, and aggregate same-day or multi-branch transactions to prevent structuring. The amended circular empowers regulators to share reported data with tax authorities and the Financial Intelligence Unit while imposing administrative and financial penalties for non-compliance.