IMPLEMENTATION OF SECTION 39 CRIMINAL ASSET RECOVERY ORDER, 2012,
CONCERNING REPORTS ABOUT TRANSPORTATION OF PHYSICAL CURRENCY AND BEARER NEGOTIABLE INSTRUMENT BY CARGO, COURIER OR POSTAL SERVICES
1. The Criminal Asset Recovery Order (CARO), 2012, imposes measures for the disclosure of information regarding movements of physical Currency and Bearer Negotiable Instruments (CBNI) into and out of Brunei Darussalam for the purposes of detecting, investigating and prosecuting any offence involved under money laundering and related offences.
2. In accordance with Section 39 CARO, 2012, any person sending or receiving CBNI amounting to BND 15,000 or more, or in equivalent amount in foreign currency, into or out of Brunei Darussalam either by cargo, courier or postal services, are required to submit a report to Autoriti Monetari Brunei Darussalam (AMBD).
3. A complete and accurate report is required to be submitted directly to AMBD's Financial Intelligence Unit, no later than 5 working days after the date of receipt or transmission of the CBNI.
4. Failure to provide a full and accurate report may be subject to a fine not exceeding BND 50,000, imprisonment for a term not exceeding 3 years, or both, under CARO, 2012.
5. Implementation of reporting CBNI movements by cargo, courier or postal services is effective 1 May 2018.
6. The CBNI form is available at post office branches, cargo and courier companies, or can be downloaded from AMBD's website at http://www.ambd.gov.bn.
Autoriti Monetari Brunei Darussalam
Ref No: AMBD/COMMS/
Date: 15 Sya'aban 1439/ 1 May 2018
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