On May 1, 2014, the Canada Border Services Agency (CBSA) seized more than Can $82,000 in unreported currency at the St. Stephen Third Bridge border crossing in New Brunswick.
CBSA officers discovered the undeclared currency locked inside the centre arm rest during a secondary examination of a truck. The currency was seized with no terms of release. The driver of the vehicle, a Newfoundland and Labrador man, was arrested and turned over to the Royal Canadian Mounted Police (RCMP). He was released and will appear in court at a later date. No charges have yet been laid as the RCMP investigation is ongoing.
- The Proceeds of Crime (Money Laundering) and Terrorist Financing Act require travellers to declare all currency and other monetary instruments over $10,000 at entry and/or exit from Canada.
- These reports must be made in writing, signed, and given to a CBSA officer.
- Failure to report currency and monetary instruments may result in seizure and the assessment of penalties. Penalties range from $250 to $5,000, and may include forfeiture.
- When CBSA officers suspect that the non-reported currency is the proceeds of crime or terrorist finances, they may seize the currency with no terms of release.
Our officers are the first line of defence in protecting Canadians from the serious issues associated with currency smuggling, including money laundering and financing of terrorists. The RCMP and CBSA are working together to impede the ability of criminals to operate effectively within our borders.”
- Debra Thompson, CBSA Chief – St. Stephen Third Bridge, New Brunswick
- 30 -
CBSA Atlantic Region Communications
Follow the CBSA on Twitter (@CanBorder), join us on Facebook or visit our YouTube channel.