5-12-2024 (SINGAPORE) A 49-year-old foreign national faces potential criminal charges after attempting to bring more than $1.3 million in undeclared currency into Singapore, authorities revealed in a joint statement on December 4.
The case emerged during a five-day multi-agency enforcement operation conducted across Singapore’s checkpoints between November 25 and 29, which saw authorities screen over 8,100 travellers and inspect more than 14,000 pieces of luggage.
The operation, which involved the police, Immigration and Checkpoints Authority, Singapore Customs and Health Sciences Authority, uncovered eight cases of travellers attempting to circumvent cash declaration laws. While seven cases involved relatively modest sums between $21,000 and $38,400, the largest seizure involved the foreign national who significantly under-reported his holdings.
David Chew, director of the police Commercial Affairs Department, emphasised the serious nature of cash smuggling, stating it remains a preferred method for money laundering operations. “The penalties for violating Cross-Border Cash Reporting requirements have been tripled to create stronger deterrence,” he noted.
Under Singapore’s Cross-Border Cash Reporting Regime, travellers must declare any sum exceeding $20,000 within 72 hours of crossing the border. Violations can result in fines up to $50,000, three years’ imprisonment, or both, with additional provisions for asset confiscation.
The operation also revealed other customs violations, with 51 travellers caught attempting to evade duty on tobacco, alcohol and other goods. Twelve individuals were found carrying prohibited e-vaporisers and smokeless tobacco products.
