iaink

Thats different to the CBSA freezing funds as you bring them in which is what I thought was implied.

Surely "immigration", while in postion of an shiney new visa and a great long government file to back that up, is a sufficiently good reason for having such funds.

I've had tens of thousands wired to me from the UK, no questions asked.

Aviator

They have the latex gloves at the ready!

Mrs Jingles

If this is the norm where your bank account is concerned then questions won't be asked.......it's when the account is a new one OR when a larger than usual deposit is made.

Forgot to ask your address for the begging letter

Rich_007

Who are "they" and who do we complain to ?

R.

Auld Yin

I've had tens of thousands wired to me from the UK, no questions asked.

Having tens of thousands wired to you is not the issue. There are money laundering rules/regulations in UK banks. Such funds probably can be trace if necessary. It is CASH that's the problem.

Mrs Jingles

Sorry, but you're wrong! It's something that goes against the norm that is the issue...or a new account that has a large amount deposited into it

iaink

CBSA is they. I imagine the ombudsman would be the first person, or engaging a competent lawyer.

iaink

It was an inheretence. Frankly I would rather still have my mum around than have the money.


Wired funds are also declared...its just done automatically by the bank.

You guys are missing the point entirely. The purpose of the law is not to track the declared money coming in, its to have something to pin on the people who are bringing in dirty money without declaring it...like getting Al Capone for tax evasion.

Auld Yin

What is it that goes against the norm? What is the norm?

Aviator

Every transaction that comes into a Canadian institution is reported. Questions will only be asked if they become interested in your financial activities.

Auld Yin

And you know this, how?

MB-Realtor

Its all to do with "Fintrac":-

http://www.fintrac-canafe.gc.ca/intro-eng.asp

Aviator

Because it's common knowledge. Any bank will tell you if you ask.
See the Fintrac website, this is what they do.
http://www.fintrac-canafe.gc.ca/fint...nafe/1-eng.asp

CBSA report to Fintrac at all POE and financial institution report directly to Fintrac. It has been happening for somewhere around 8 years.

dbd33

Oh my, what a lively thread. I would have thought this stuff simple, walk up to the immigration officer and declare $200,000 cash. If your explanation is "I'm emigrating, here are my documents" a fuss is unlikely. If your explanation is "won it in a poker game, same as last week" you are likely trigger alarm bells. In the first case they'll record and report it but there's no reason for futher inquiry and, even if the plod do come around, it'd be easy to show that it's from selling a house or similar.

Mrs Jingles

Although you may not realise it you do actually develop a "pattern" of behaviour where your banking transactions are concerned; that is what is considered the "norm". Anything that is drastically different from this is going to raise suspicion. For instance if you normally deposit small amounts, say a few hundred dollars, and suddenly deposit a few thousand, this goes against your normal banking behaviour. This is true of banking not only here in Canada, but also in the UK, and I would suspect most banks in developed countries.

And Iaink, I'm not missing the point, as I grasp it fully......even if the money is declared, proof of its source has to be provided to the banking authority's satisfaction.