CBSA seizes over $55,000 in suspected proceeds of crime at Toronto Pearson International Airport
News Release
February 14, 2018 Mississauga, Ontario Canada Border Services Agency
The Canada Border Services Agency (CBSA) announced today a suspected proceeds of crime seizure of over $55,000 in currency (both Canadian and U.S. dollars) at the Toronto Pearson International Airport. On February 2, 2018, airport security notified CBSA officers that a traveller en route to Israel had a significant amount of currency in their carry-on baggage.
CBSA officers examined the baggage, and the amount of money found exceeded what was declared by the traveller. The cash was seized by the CBSA under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, with no terms of release.
While there are no restrictions on the amount of money that an individual can bring into or take out of Canada, nor is it illegal to do so; all individuals or entities must report to a border services officer amounts equal to or greater than $10,000 CAD, or its equivalent in a foreign currency, that is being brought into or taken out of Canada.
Quotes
“I want to congratulate the officers involved in this seizure. This enforcement action demonstrates the Agency’s commitment to protect Canada’s borders from illegal activity.”
- Goran Vragovic, CBSA Regional Director General, Greater Toronto Area Region
Quick Facts
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In 2017 close to $6,000,000 in currency was seized in the Greater Toronto Area Region, of which over $500,000 was suspected proceeds of crime.
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Currency and other monetary instruments valued at $10,000 or more must be reported ‒ failure to do so may result in seizure action.
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If you have information about suspicious cross-border activity, please contact the CBSA Border Watch Toll-free line at 1-888-502-9060.
Associated Links
Contacts
CBSA Media Relations
Greater Toronto Area
905-803-2800
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