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New Canada Customs Procedures

January 6, 2003

On January 6, 2003, in response to the “Proceeds of Crimes (Money Laundering) and Terrorist Financing Act”, the Canada Customs and Revenue Agency created Cross-Border Currency and Monetary Instruments Reporting procedures.  These new measures require all persons entering Canada to declare the importing or exporting of “monetary instruments” over $10, 000 CDN.  This includes the importing or exporting of:  securities such as stocks, bonds, debentures and treasury bills;  as well as “negotiable instruments” such as bank drafts, cheques, promissory notes, travellers cheques or money orders.  Further details are available at http://www.ccra-adrc.gc.ca/E/pub/cm/d19-14-1/d19-14-1-e.pdf or by calling Canada Customs at 1-800-461-9999.

 

We are issuing this announcement to alert members of the community to the new procedure and how it will impact those entering Canada.


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