Police probe man who brought over $1.3m into S’pore, and under-declared amount

The authorities are investigating a 49-year-old man who was caught carrying more than $1.3 million in various currencies into Singapore, and under-declaring the amount, on Nov 27.

The man, a foreign traveller, was found to have provided an inaccurate cross-border movement of Cash or Bearer Negotiable Instruments (CBNI) report, according to a joint statement issued by the police, the Immigration and Checkpoints Authority (ICA), Singapore Customs and the Health Sciences Authority (HSA) on Dec 4.

He was one of eight travellers caught attempting to bring in large amounts of cash without declaration or providing an accurate report. The other seven were found carrying cash amounting between $21,000 and $38,400.

The offenders were found during multi-agency enforcement operations carried out across Singapore’s land, sea and air checkpoints from Nov 25 to 29.

Over the five days, the authorities conducted enhanced checks on more than 8,100 identified travellers and 950 vehicles.

More than 14,000 luggage and hand-carry bags were scanned and searched.

“The enforcement operations are part of continued efforts by the authorities to detect and enforce against non-compliance of Singapore’s Cross-Border Cash Reporting Regime (CBCRR) and other illegal cross-border activities,” the authorities said.

All travellers entering or leaving Singapore are required to submit CBNI declarations if they are carrying more than $20,000, or its equivalent in foreign currency, within 72 hours of entering or leaving Singapore.

Police investigations on the man who provided the inaccurate report of the $1.3 million are ongoing.

Of the other offenders, four were issued with notices of warning, while three were issued composition sums amounting to a total of $12,000.

The authorities also caught 51 travellers who failed to declare and pay taxes on dutiable cigarettes and tobacco products, liquors exceeding duty-free allowance or new articles exceeding Goods and Services Tax (GST) import relief allowances.

The total duty and GST evaded totalled more than $2,300, with authorities imposing over $17,000 in composition sums to the offenders.

Twelve travellers were also found with e-vaporisers and smokeless tobacco.

The police’s Commercial Affairs Department director David Chew said: “The smuggling of cash across territorial borders is a known way criminals launder proceeds of crime.

“To address the money-laundering risks posed by undeclared cross-border movements of cash, the composition penalties for CBCRR have also been increased threefold for stronger deterrence.”

He reminded travellers that strong enforcement action will be taken against those who fail to make full and accurate reports of cash movements into or out of Singapore.

Failure to report or accurately report the movement of CBNIs exceeding $20,000 is an offence punishable under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.

Offenders may be fined up to $50,000, jailed up to three years, or both. A confiscation order may also be issued for any part of the cash involved in the offence.

Source: Straits Times © Singapore Press Holdings Ltd. Permission required for reproduction.

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