Receipt of cash includes awareness or knowledge of cash received either by an agent or a third party in terms of the transaction. When the accountable institution becomes aware of the receipt of cash above the threshold amount, a report must be submitted to the FIC in terms of section 28 within three business days of the transaction. There is also a duty on the bank as well as the affected accountable institution to report the cash transaction that exceeds the threshold to the FIC.​​ 

Category: Compliance and supervision / Cash threshold reporting