Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17)

Marginal note:Currency and monetary instruments

• 12 (1) Every person or entity referred to in subsection (3) shall report to an officer, in accordance with the regulations, the importation or exportation of currency or monetary instruments of a value equal to or greater than the prescribed amount.

• Marginal note:Limitation

  (2) A person or entity is not required to make a report under subsection (1) in respect of an activity if the prescribed conditions are met in respect of the person, entity or activity, and if the person or entity satisfies an officer that those conditions have been met.

• Marginal note:Who must report

  (3) Currency or monetary instruments shall be reported under subsection (1)

  • (a) in the case of currency or monetary instruments in the actual possession of a person arriving in or departing from Canada, or that form part of their baggage if they and their baggage are being carried on board the same conveyance, by that person or, in prescribed circumstances, by the person in charge of the conveyance;

  • (b) in the case of currency or monetary instruments imported into Canada by courier or as mail, by the exporter of the currency or monetary instruments or, on receiving notice under subsection 14(2), by the importer;

  • (c) in the case of currency or monetary instruments exported from Canada by courier or as mail, by the exporter of the currency or monetary instruments;

  • (d) in the case of currency or monetary instruments, other than those referred to in paragraph (a) or imported or exported as mail, that are on board a conveyance arriving in or departing from Canada, by the person in charge of the conveyance; and

  • (e) in any other case, by the person on whose behalf the currency or monetary instruments are imported or exported.

• Marginal note:Duty to answer and comply

  (4) Every person arriving in or departing from Canada shall

  • (a) answer truthfully any questions asked by the officer in the performance of the officer’s duties and functions under this Part; and

  • (b) if the person is arriving in or departing from Canada with any currency or monetary instruments in respect of which a report is made, on request of an officer, present the currency or monetary instruments that they are carrying or transporting, unload any conveyance or part of a conveyance or baggage and open or unpack any package or container that the officer wishes to examine.

• Marginal note:Sending reports to Centre

  (5) The Canada Border Services Agency shall send the reports they receive under subsection (1) to the Centre. It shall also create an electronic version of the information contained in each report, in the format specified by the Centre, and send it to the Centre by the electronic means specified by the Centre.