International Best Practices: Detecting and preventing the illicit cross-border transportation of cash and bearer negotiable instruments (SR IX)

Best Practices: Cash couriers - Illicit cross-border transportation (SR IX)

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Experience has shown that implementing Special Recommendation IX (SR IX) can be challenging for jurisdictions.  This is partly because the detailed requirements of SR IX all have to fully cover both incoming and outgoing cross-border transportations of currency and bearer negotiable instruments by any of the following three methods of transportation: 

  • cash couriers
  • through the post
  • by containerised cargo

Non-implementation of any of these elements has a negative effect on the entire system.

This is a non-binding Best Practice Paper that should be read in conjunction with the FATF standard on this issue which is comprised of Special Recommendation IX (SR IX) and its Interpretative Note.  This Best Practice Paper is based on the experience of jurisdictions with the implementation of SR IX.  It does not cover all aspects of SR IX, but focuses on areas that have proven to be challenging for jurisdictions to implement and provides possible tested solutions (best practices).  

Please note that this document refers to the FATF Recommendations as last updated and published in October 2004, and does not yet take into account the 2012 revision of the FATF Recommendations. 

Click here for the 2012 FATF Recommendations, including the conversion table from the old Recommendation to the new FATF Recommendation.

 

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