AML Act, 2010: SBP raises CTR reporting threshold
KARACHI: Following the directives of the federal government, the State Bank of Pakistan (SBP) on Thursday increased the minimum threshold for reporting Currency Transaction Reports (CTR) to the Financial Monitoring Unit (FMU) of SBP to Rs3 million with immediate effect under the Anti-Money Laundering Act, 2010. SBP Regulated Entities (REs) are required to file Suspicious Transaction (STR) and…
KARACHI: The State Bank of Pakistan (SBP) has raised the reporting threshold for Currency Transaction Reports (CTR) under the Anti-Money Laundering Act, 2010 to Rs3 million, effective immediately, according to a circular letter issued by the central bank. This adjustment comes in response to the federal government's directives and marks an increase of Rs1 million from the previous threshold of Rs2 million, which was set in January 2015.
The heightened threshold applies to Currency Transaction Reports (CTR) filed with the Financial Monitoring Unit (FMU) of the SBP, as mandated by Section 7 of the Anti-Money Laundering Act, 2010. SBP regulators are obligated to submit Suspicious Transaction Reports (STR) and Currency Transaction Reports (CTR) to the FMU, reflecting the updated regulatory landscape outlined by Ministry of Finance notification No. 3(40) AML/2025-P-002-0001 dated November 11, 2026.
The SBP emphasized that this change was implemented in accordance with the National Executive Committee on Anti-Money Laundering and Combating the Financing of Terrorism's (AML/CFT) notification, which delegated authority under Section 2(xi) of the Anti-Money Laundering Act, 2010 to set the revised CTR reporting threshold.
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