delete Cross-border Currency and Monetary Instruments Reporting Regulations
Regulates reporting requirements for cross-border movements of currency and monetary instruments over $10,000 to combat money laundering and terrorist financing, requiring detailed documentation and declarations for imports/exports by various transport methods including air, sea, and land.
Creates significant compliance costs and privacy intrusions for ordinary citizens while imposing bureaucratic burdens on legitimate business. The $10,000 threshold catches many harmless transactions, and the extensive reporting requirements disproportionately affect law-abiding Canadians without meaningfully preventing determined criminals who use sophisticated money laundering methods.