Threshold Transactions Reporting (TTR) - Nepal

              Threshold Transactions Reporting (TTR) 

Definitions:

TTR : It stands for Threshold Transactions Reporting.

TTR is a report that financial institutions and Designated Non-Financial Businesses and Professions are required to file to FIU-Nepal for :

• Deposit,
• Withdrawal,
• Exchange of currency,
• Other payment or transfer;

if it exceeds prescribed threshold limit Provided by FIU-Nepal.

 Reporting Thresholds for Reporting Entities

The regulators of REs have designated different threshold limits as stated in their AML/CFT directives.

The designated thresholds for REs have been categorized into;

1) Bank and Financial Institutions – 5 Regulators
2) Other Reporting Entities. – 6 Regulators

Threshold :- Bank and Financial Institutions

Currently, the designated thresholds for Bank and Financial Institutions in Nepal are as follows by the regulatory NBR ( Nepal Rastra Bank):

• Cash deposit or withdrawal of more than Rs. 1 million in one transaction –> TTR-Cash
• Withdrawal of more than Rs. 1 million in one transaction  -> TAR-Withdrawl
• Multiple of transactions in one day in single account.

• Cross border electronic or other transfer of more than Rs. 1 million by a customer in single or in a series of transactions in one day. ->TTR Cross Border
• Exchange of foreign currency equivalent to Rs 5,00,000/- or more by a customer in one transaction or in a series of transactions in one day. ->TTR FCY

        Nepal Rastra Bank is the Regulators for all the available Banks and Financial Institutions in Nepal.