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Cash Controls at the Borders 6 th April 2011

Cash Controls at the Borders 6 th April 2011 . Contents. Relevant Acquis Icelandic Legislation International Conventions Status and Alignment Competence of Customs Act Alignment Financial Crisis 2008 Implementation Cash found at Security Check Points

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Cash Controls at the Borders 6 th April 2011

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  1. Cash Controls at the Borders 6th April 2011

  2. Contents • Relevant Acquis • Icelandic Legislation • International Conventions • Status and Alignment • Competence of Customs Act • Alignment • Financial Crisis 2008 • Implementation • Cash found at Security Check Points • Cash seizure report Cash seizure report • Customs Preliminary Investigation • Steps that have to be taken...

  3. Relevant Acquis • Regulation (EC) No 1889/2005 of the European • Parliament and of the Council of 26 October 2005 on • controls of cash entering or leaving the Community • (Official Journal L 309 , 25/11/2005 P. 0009 – 0012)

  4. Icelandic Legislation • Icelandic Customs Law 88/2005 - Paragraph 2 of Article 27 and article 162 of the same act • Rules on foreign exchange nr. 370/2010 (Central Bank of Iceland) • Icelandic Law 64/2006 on Money Laundering and the Financing of Terrorism

  5. International Conventions and Co-operation • United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances • (Vienna, 1988) • International Convention for the Suppression of the Financing of Terrorism (New York, 1999) • Member of the Financial Action Task Force (FATF)

  6. Status and Alignment • Iceland applies the general principles of the Financial Action Task Force • In terms of Iceland's alignment with EU legislation, further effort is needed

  7. Financial Crisis 2008 • Special focus on cash controls due to the financial crisis in 2008 • Controls were deemed necessary to stabilize the Icelandic economy following the financial crisis of October 2008 • Gradual removal of controls in 2011 and 2012

  8. Focus on Cash Controls • New Working Rules have been implemented • A task force has been set up to strengthen cash controls at the borders • The role of the task force is to organize presentations and built up expertise in this field • Specialists are to be trained

  9. Implementation • Travellers and crew members shall voluntarily declare cash exceeding EUR 10,000 • If a traveller or a crew member has cash exceeding EUR 15,000 customs officers are authorized to seize these valuables when there is suspicion that they will be used for violations of provisions punishable by the General Penal Code

  10. Cash found at Security Check Points • If money is discovered during security checks at airports, security officers are obliged to contact customs which then takes over the case • Personal data of the person involved is recorded in the customs report • Customs officers obliged to make a copy of the bio page of the individuals passport

  11. Cash Seizure Report • A special cash seizure report shall also be written • The cash shall always be counted accurately in the presence of the person involved as well as a witness • In the report, all parties verify the amount with their signature • A cash declaration can be found on the web, as well as at the red customs gate

  12. Customs Preliminary Investigation • During preliminary investigation by customs much emphasis is put on building up a watertight case for further investigation by the Police Authorities • Importance of recording responses accurately, cross-checking responses for consistency and repeating questions that have not been answered yet

  13. Cash Declaration for amounts exceeding € 10.000 Availableon: http://www.tollur.is/upload/files/E-29%281%29.pdf

  14. Preliminary Investigation • After preliminary investigation by Customs, cases go the Icelandic Police for further investigation • Police determines further procedure of the case, i.e. whether or not it’s presented to the Director of Public Prosecutions • If the Prosecutor sees a chance of conviction the person involved is charged

  15. Gap Analysis • Customs Authorities are sufficiently equipped for the implementation of Regulation (EC) No 1889/2005 • In principal the rules of the EU and Iceland are similar, but further alignment is needed • Customs officers have to be trained to cope with the new legal environment

  16. Thank you for your attention Merci de votre attention Vielen Dank für Ihre Aufmerksamkeit Grazie per la vostra attenzione Dziękuję za uwagę Takk fyrir athyglina

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