These regulations, which come into force on 11 May 2023, amend the Anti-Money Laundering and Countering Financing of Terrorism (Definitions) Regulations 2011. For the purposes of section 67A of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, the amendment provides that the applicable threshold value for a cash transaction or a series of related cash transactions for certain articles is $10,000. The effect of this is that persons in trade are prohibited from buying or selling in cash articles that fall within 1 or more of the following descriptions if the total value of the transaction is equal to or above $10,000:

• jewellery:

• watches:

• gold, silver, or other precious metals:

• diamonds, sapphires, or other precious stones:

• motor vehicles:

• ships.