Large currency seizure at the Cornwall port of entry

News Release

On May 21, 2016, the Canada Border Services Agency (CBSA) seized approximately US$129,000 in undeclared currency from two Canadian residents attempting to enter Canada at the Cornwall port of entry.

 

The individuals were referred to a secondary examination to assess the legitimacy of one of their travel documents. At the same time, officers searched their vehicle and discovered a grocery bag containing 13 shrink-wrapped bags filled with U.S. currency. The individuals were detained and subsequently released after being informed that the money was being seized under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

 

The money has been transferred to the Royal Canadian Mounted Police (RCMP) for further investigation.

 

Quick Facts

 

• Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, currency or monetary instruments valued at CAN$10,000 or more must be reported to a BSO[GP1]  when brought in or taken out of Canada. These reporting requirements came into effect on January 6, 2003.  Under the Act, there are no restrictions on the amount of money that can be brought in or taken out of Canada, but currency and monetary instruments of CAN$10,000 or more must be reported; failure to do so can result in seizure or the assessment of a civil penalty ranging from $200 to $5,000.

 

• The CBSA works closely with the RCMP and other law enforcement agencies to support and protect Canada’s borders. The CBSA takes its border protection responsibilities very seriously and works diligently to fight money laundering and drug-related crime.

 

• Anyone with information about suspicious cross-border activity is encouraged to call the CBSA Border Watch toll-free line at 1-888-502-9060.

 

Quote

 

“While it is not illegal to travel with monetary instruments valued at over $10,000, you are required to report the possession of these items when entering or leaving Canada.  Failure to do so can result in the seizure of the assets or a penalty.”

 

-       Steve MacNaughton, District Director of Operations.

 

 

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For media info:

CBSA – Regional Communications

Tel.: 613-998-2000

Email: CBSA-ASFC_NOR-RNO_Communications@cbsa-asfc.gc.ca

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