Canadian officials agree to share cross-border currency reports with U.S.

By Christine Duhaime | November 10th, 2010

Officials from Canada’s Border Services Agency (CBSA), U.S. Immigration and Customs Enforcement and U.S. Customs and Border Protection have signed an agreement that requires the countries to notify one another when more than $10,000 in currency is seized at the border.

The Memorandum of Understanding for the Sharing of Currency Seizure Information is based on an action plan announced in July by U.S. Department of Homeland Security Secretary and Public Safety Minister that is designed to improve information sharing among Canada and the U.S. to monitor and protect against national security threats affecting both countries from terrorist financing and money laundering.

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