Instruction No. 010-09-2017 Setting the Threshold for Cash Transaction Declarations to the National Financial Intelligence Unit

The Governor of the Central Bank of West African States (BCEAO), Having regard to the Treaty of the West African Monetary Union (UMOA) of 20 January 2007, particularly Article 34; Having regard to the Statutes of the Central Bank of West African States (BCEAO), annexed to the UMOA Treaty of 20 January 2007, particularly Articles 30 and 59; Having regard to the Uniform Act on the fight against money laundering and terrorist financing in the Member States of UMOA, particularly Articles 1, 15, 17 and 79, HEREBY DECIDES:

Article 1: Threshold for Declaration
The threshold for the declaration of cash transactions to the National Financial Intelligence Unit, abbreviated CENTIF, is set at fifteen million CFA francs. Financial institutions and Designated Non-Financial Businesses and Professions are subject to this declaration obligation, regardless of whether the transactions they carry out are single or multiple.
Article 2: Exemptions
The sectors of activity whose cash transactions are not subject to the declaration obligation referred to in Article 1 above are determined by Order of the Minister responsible for finance in each Member State of the Union.

Article 3: Sanctions
Non-compliance with the provisions of this Instruction is sanctioned, in accordance with the Uniform Act on the fight against money laundering and terrorist financing in the Member States of UMOA. Avenue Abdoulaye FADIGA BP 3108 – Dakar - Senegal Tel.: (221) 33 839 05 00 / Fax: (221) 33 823 93 35 courrier.bceao@bceao.int - www.bceao.int INSTRUCTION NO. 010-09-2017 SETTING THE THRESHOLD FOR THE DECLARATION OF CASH TRANSACTIONS TO THE NATIONAL FINANCIAL INTELLIGENCE UNIT

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Article 4: Entry into Force
This Instruction enters into force on the date of its signature and is published wherever necessary.
Done in Dakar, 25 September 2017
Tiémoko Meyliet KONE