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SINGAPORE – A 27-year-old man, Charles Phillip Santharasegaran, has been sentenced for trying to smuggle more than 460,000 Singapore dollars in local and foreign currency into Singapore without reporting it.
A person must declare any amount exceeding S $ 20,000 when entering or leaving Singapore. Not doing so is an offense under the cross-border cash reporting regime.
On November 3, police were alerted that a man was carrying cash in excess of $ 20,000 at the departure gate of Terminal 1 of Changi Airport.
The investigation revealed that he was going to embark on a flight to Papua New Guinea when an air traffic control officer had carried out a physical check of his baggage at hand. The agent found stacks of dollars from Singapore, the United States and Australia.
The man failed to report to an authorized official the movement of cash required by a section of the law on bribery, drug trafficking and other serious crimes (confiscation of benefits).
On November 22, he was fined $ 8,000 for failing to report cash movements under the Act.
Any person who is found to have failed to report money movements under this section may be fined up to $ 50,000 or may be imprisoned for up to $ 50,000. go up to three years, or both.
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