Persons looking to change foreign currency amounting to $20,000 and above at licenced cambios faced new rules yesterday in keeping with the Anti-Money Laundering and Countering Finance of Terrorism Act of 2009.
The regulation came into force yesterday and under the law the cambios are required to properly identify their customers and keep records of all transactions. Customers will now have to supply their names, address and proof of ID, either an identification card or passport.
Stabroek News checked with several of the registered cambios and managed to secure comments from Confidential Cambio at Mohamed’s Enterprise and L. Mahabeer & Sons Cambio.
Nazar Mohamed of the former said they encountered
