The FCS of Russia from February 4, 2020, if you move more than 100 thousand physical persons are obliged to provide supporting documents

FCS of Russia informs: since February 4, 2020 lump sum movement of one individual through the customs border of the EAEU of cash and (or) monetary instruments totaling more than 100 thousand U.S. dollars (equivalent) simultaneously with the submission of a passenger customs Declaration, you must provide proof of the origin of such funds.

The relevant Decision of the EEC Board prepared in accordance with the PP. 9 clause 1 of article 261 of the customs code of the EAEU and focused on the implementation of recommendation 32 “cash Couriers” Group of development of financial measures of struggle against money-laundering (FATF).

Recommendation 32 was developed to provide countries participating in the FATF measures to identify and stop cross-border physical movement of cash and negotiable instruments in bearer form, which can be used for the financing of terrorism or legalization of proceeds of crime.

Documents submitted must prove the claimed in the Declaration about origin of funds and instruments. As such documents may be used: documents issued by credit institutions when making FX transactions, withdrawing funds from the account the loan; documents confirming the conclusion of legal transactions (inheritance, gift, etc.).

In case of non-relevant documents the movement across the customs border of the EAEU of cash and (or) monetary instruments is not allowed.