Cross-border Currency and Monetary Instruments Reporting Regulations

18 For the purposes of subsection 18(2) of the Act, the prescribed amount of the penalty is

• (a) $250, in the case of a person or entity who

  • (i) has not concealed the currency or monetary instruments,

  • (ii) has made a full disclosure of the facts concerning the currency or monetary instruments on their discovery, and

  • (iii) has no previous seizures under the Act;

• (b) $2,500, in the case of a person or entity who

  • (i) has concealed the currency or monetary instruments, other than by means of using a false compartment in a conveyance, or who has made a false statement with respect to the currency or monetary instruments, or

  • (ii) has a previous seizure under the Act, other than in respect of any type of concealment or for making false statements with respect to the currency or monetary instruments; and

• (c) $5,000, in the case of a person or entity who

  • (i) has concealed the currency or monetary instruments by using a false compartment in a conveyance, or

  • (ii) has a previous seizure under the Act for any type of concealment or for making a false statement with respect to the currency or monetary instruments.