GAMBLING WINNINGS LOST TO CBSA SEIZURE
STRONG EVIDENCE REQUIRED TO DEMONSTRATE LEGITIMATE ORIGIN OF SEIZED FUNDS
Download a PDF copy of this Blog here.
Travelers entering Canada are strictly required under Section 12 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the “Act”) to report currency and/or monetary instruments valued at CA$10,000 or more to a Canada Border Services Agency (“CBSA”) officer. Not declaring such funds can lead to severe consequences, including the immediate seizure of the currency under Section 18 of the Act.