A 43-year-old man was arrested on April 4 after he attempted to cross into Canada at the Woodstock border with illegal cash.
Border guards seized $292,950 during a search of the man’s vehicle.
A release says there were suspicions of it resulting from money laundering.
According to Canada’s Proceeds of Crime and Terrorist Financing Act, currency valued at $10,000 or more must be reported to the CBSA when brought in or taken out of Canada. Failing to do so can mean seizure or fines of up to $5,000.
CBSA officials performed a secondary search of the man’s vehicle with a K9 dog.
Detector Dog Keo located a hidden compartment in the car where the man had been concealing the money.
The 43-year-old man from Hopewell Cape, N.B., was arrested and transferred to the RCMP.
He has been released while members of the RCMP’s Federal Serious and Organized Crime – Border Integrity Unit investigate to determine the origins of the money.
“This significant currency seizure is another example of how the CBSA and RCMP are working together to fight organized crime at our border and beyond,” said Marco Mendicino, Canada’s public safety minister, in a news release.
“It is through collaborative law enforcement efforts like this that we will continue to identify and combat complex and evolving threats to our economy and protect our national security interests.”
The CBSA and the RCMP remind anyone with information about, or who suspects, illegal activity to contact local police or Crime Stoppers.