Memphis – On Wednesday, August 18, U.S. Customs and Border Protection (CBP) Officers at an express consignment hub in Memphis, TN examined a package described in the paperwork by the shipper as “BOOKS OR BROCHURES, BELT BUCKLE, JEANS.” The shipment was sent from a village in rural Saskatchewan to a residence north of Boston, nearly 2,500 miles away.

Counterfeit canadian loonies
$25,000.00 in Canadian Currency Seized in Inspection

The shipment was x-rayed, and it did not resemble brochures nor clothing. Upon further examination the package was found to contain $25,000.00 in Canadian Currency, which is worth $19,657.02 U.S. dollars.

The Canadian dollar coin is sometimes called the loonie, due to the image of a loon bird on the backside. The Canadian dollar is the fifth-most held reserve currency in the world, following the U.S. dollar, the euro, the yen and the pound sterling.

You may bring into or take out of the U.S., including by mail, as much money as you wish! However, if it is more than $10,000 you will need to report it to CBP. Use the online Fincen 105 currency reporting site or ask a CBP officer for a paper copy. The penalties for non-compliance can be severe. Read more about currency reporting requirements.

“Money” means monetary instruments and includes U.S. or foreign coins currently in circulation, currency, travelers’ checks in any form, money orders, and negotiable instruments or investment securities in bearer form.

The currency will be held while CBP awaits a claim from the shipper. If no claim is filed, the currency is deposited in the Treasury Forfeiture Fund.

This seizure took place within the Area Port of Memphis, which covers ports of entry throughout the state of Tennessee and falls under CBP’s New Orleans Field Office. This Field Office includes all ports in Louisiana, Mississippi, Alabama, Arkansas and Tennessee.

 

Follow CBP on Twitter @CBPGulfCoast

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Author: Editor
Editor represents multiple online news sites, including STL.News, RSSNews.Press and more. We believe that our "direct source news" concept helps provide accurate information to the public without bias. We want to help improve technology so the news is presented as it was intended to be.