Regulatory Alerts2021-03-02
Regulation on Cross Border Cash Declaration Amount
The Maldives Monetary Authority issued Regulation R2015/22 to establish the reporting threshold for cash entering or leaving the Maldives. The regulation mandates that any person carrying cash exceeding USD 10,000 or its equivalent in Maldivian Rufiyaa or other currencies must submit a declaration. This requirement is enforced under the Proceeds of Crime and Terrorism Financing Prevention Act No. 10/2014.
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