Contributing Lawyers

Canada

Cyndee Todgham Cherniak

United States

Susan Kohn Ross

Australia

Andrew Hudson



First Conviction Under Proceeds of Crime Law in BC Re Export of Unreported Cash

On April 7, 2010, the Royal Canadian Mounted Police announced the first conviction of an individual for failing to report outbound currency in excess of $10,000 under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

Do not forget to report cash in excess of $CDN 10,000 before you go through U.S. Customs at Canadian airports, before you go through security on international flights, before you travel through a border crossing, etc. Stop by the CBSA's offices at airports and border crossings when leaving the jurisdiction of Canada if you have currency in excess of $10,000. If you do not report the export of currency in excess of $10,000, you may be convicted under Canadian law.

On May 27, 2009, 37-year-old Oksana Yang of Burnaby, when traveling to Hong Kong via Vancouver International Airport, was selected for further examination by the Canada Border Services Agency (CBSA) for currency verification. Upon examination, CBSA officers discovered the equivalent of approximately $ CDN 13,000 in undeclared currency. During the interview, Ms. Yang could not provide the CBSA officers with a plausible explanation for the purpose of her travel or her possession and transport of the money. The officers seized the currency under the PCMLTFA and referred the file to the RCMP Federal Integrated Proceeds of Crime unit to investigate. To review the entire notice, please go to the following link - http://www.bc.rcmp.ca/ViewPage.action?siteNodeId=50&languageId=1&contentId=14149

If you require further information, please contact Cyndee Todgham Cherniak.

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