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Subscribe to this list via RSS Blog posts tagged in Proceeds of Crime

Posted by on in Customs & Trade Blog

As we previously discussed here, the Financial Transactions and Reports Analysis Centre of Canada (“FINTRAC” or the “Centre”) plays a crucial role in combating illegal activities like money laundering and terrorism financing.

The Centre operates under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the “Act”), which lays out a complex web of reporting, record-keeping, and identity verification requirements.  When these requirements are not met, enforcement measures, including Administrative Monetary Penalties (“AMPs”), come into play.

Tagged in: Administrative Monetary Penalty FINTRAC Money Service Businesses Proceeds of Crime Reasonable Grounds
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Posted by on in Customs & Trade Blog

If a person intends to carry CAD $10,000 or more in Cash over Canada’s border (either entering or exiting Canada), the person carrying the cash must declare the amount being carried to Canadian Border Services Agency (“CBSA”). If a CBSA officer determines that a traveller is carrying undeclared cash and suspects that it may be proceeds of a crime, the CBSA may seized the cash and hold it until the matter is proven otherwise. A recent Federal Court decision in Evans v Canada (Public Safety and Emergency Preparedness), 2022 FC 1516 (“Evans”) serves notice that while there are appeal mechanisms available, it can be extremely difficult to overturn these seizures.

Tagged in: Canada Border Services Agency CBSA Customs Proceeds of Crime Seizure
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