Tanzania is to introduce cash limits for people moving across its borders to fight money laundering and the financing of terrorism and crime.
The government said the regulations require travellers entering and leaving the country to inform officials of cash or financial instruments in their possession — including travellers’ cheques, bonds, cheques or convertible securities.
The Customs department will monitor cash declarations at all ports, airports, land, sea and air crossings as the country begins enforcing the anti-money laundering measure from this year….
Mr Msongole said the regulations would ensure that competent authorities have the legal powers to stop or restrain currency or bearer negotiable instruments that are suspected to be related to terrorist financing or money laundering, or that are falsely declared or disclosed.
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