Smolensk customs: on the movement of cash and (or) cash instruments by individuals

4 February 2020 comes into force a Decision of the Board Eurasian economic Commission of August 6, 2019 No. 130, “About submission of documents to confirm the origin of cash and (or) cash instruments”, which provides representation of individuals at the same time with the passenger customs Declaration, documents confirming the origin of cash and (or) monetary instruments, one-time import into the customs territory of the EAEU or a one-time export from the customs territory of the EAEU of cash and (or) monetary instruments in an amount exceeding 100 thousand US dollars from one person.

The solution prepared in accordance with subparagraph 9 of paragraph 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).

This recommendation was developed with the goal of providing participating countries with the FATF to identify and stop (arrest) is physically moved across the border of cash and negotiable instruments in bearer form, which can be used for financing of terrorism or legalization (laundering) of income obtained by criminal means.

Submissions must confirm information about the origin of cash and (or) monetary instruments declared in the passenger customs Declaration (for example, documents issued by credit institutions when making FX transactions, withdrawing funds from the account, obtaining credit, etc., the 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.

The main state

customs inspector

public relations

V. L. Safonov