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

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 […]

Canadian convicted of attempting to leave Canada without declaring funds

Oksana Yang, a Vancouver resident, was convicted this week of attempting to leave Canada with more than $10,000 cash and not reporting it. The Proceeds of Crime (Money Laundering) and Terrorist Financing Act requires that every person report when they import to Canada or export from Canada cash (or other monetary instrument) equal to or […]