Regulatory Alerts2024-07-31
BCEAO Instruction 231/07/2024 Setting the Threshold for Declaring International Physical Transport of Cash and Bearer Negotiable Instruments
The Central Bank of West African States (BCEAO) has issued Instruction 231/07/2024 to establish a five million CFA franc threshold for declaring the international physical transport of cash and bearer negotiable instruments. Any individual entering or leaving a UMOA member state from or to a third country must submit this declaration to the Customs Administration at the point of entry or exit when carrying amounts meeting or exceeding the specified limit. The instruction, which takes effect upon signature, supersedes prior regulations and subjects non-compliance to sanctions under the relevant UMOA anti-money laundering and counter-terrorist financing uniform act.
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