Regulatory Alerts2017-09-25
Added · Updated
Instruction No. 008-09-2017 Setting the Threshold for Declaring Physical Cross-Border Transport of Cash and Bearer Negotiable Instruments
The Central Bank of West African States (BCEAO) establishes a five million CFA franc threshold for declaring the physical cross-border transport of cash and bearer negotiable instruments. Travelers moving to or from non-member states must submit this declaration to the competent authority at their point of entry or exit. Non-compliance with this threshold and declaration obligation subjects individuals to sanctions under the regional anti-money laundering and terrorist financing uniform act, as well as applicable foreign financial relations regulations.
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