From February 4, 2020 comes into force the Board Eurasian economic commission Decision dated August 6, 2019 No. 130 “On submission of documents to confirm the origin of cash and (or) monetary instruments” which provides individuals to submit at the same time with the passenger customs declaration the documents confirming the origin of cash and (or) monetary instruments with one-time import into the customs territory of the Eurasian economic union (EAEU) or a one-time export from the customs territory of the EAEU of cash and (or) monetary instruments in the amount exceeding 100 thousand US dollars for one person.
The Decision was prepared in accordance with subparagraph 9 of paragraph 1 of article 261 of the Customs code of the EAEU and is aimed at implementing recommendation 32 “Cash couriers” of the Financial Action Task Force on Money Laundering (FATF).
This recommendation was developed with the aim of providing countries participants of FATF with measures to identify and stop (detain) cash and bearer negotiable instruments that are physically moved across the border and which can be used for the purposes of financing terrorism or legalization (laundering) of proceeds received by a criminal way.
The submitted documents must confirm the information on the origin of cash and (or) monetary instruments declared in the passenger customs declaration (for example, documents, issued by credit institutions when performing conversion operations, withdrawing funds from the account, obtaining credit, etc., documents confirming the commission of civil transactions (inheritance, donation, etc.).
In case of non-submission of the relevant documents, cash and (or) monetary instruments could not be transferred across the customs border of the EAEU.