New Bank Negara rules mandating moneychangers to collect personal details for transactions above RM3,000 spark public concern in Johor Baru. Fearful of data misuse, many opt to change money in Singapore, causing a significant drop in local business.
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Bank Negara rule
Commuters feel inconvenienced and worry about potential tax scrutiny. Moneychangers face operational challenges and financial losses, with transactions taking longer to process. Despite the intent to combat terrorism and fraud, the rules disproportionately affect ordinary wage earners. The community urges Bank Negara to reconsider the impact and provide better communication on such regulatory changes in the future.
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