Four male foreigners are under investigation for violating cash declaration requirements at Singapore Changi Airport. Two of the men, aged 39 and 53, failed to declare $120,000 out of a total of $1.2 million they brought into Singapore. Additionally, two other men, aged 37 and 48, entered Singapore with over $20,000 in various currencies without declaring it.
Enforcement Operation
- Joint Operation: The individuals were apprehended during a joint enforcement operation by the police, Immigration and Checkpoints Authority (ICA), and Singapore Customs at Changi Airport on November 16. This information was released in a statement by the police and ICA on November 24.
Legal Requirements and Penalties
- Declaration Requirement: Singapore’s regulations mandate the declaration of the physical movement of any currency or bearer negotiable instruments exceeding $20,000, or its equivalent in foreign currency, when entering or leaving the country.
- Consequences of Non-Compliance: Failure to declare can result in severe penalties, including a fine of up to $50,000, a jail term of up to three years, or both. Additionally, the undeclared items may be seized and possibly confiscated upon conviction. Attempting to evade customs or excise duties can lead to fines up to 20 times the amount of duty and GST evaded.
Conclusion
This incident at Changi Airport serves as a reminder of the strict regulations governing currency movements in Singapore and the severe consequences of non-compliance. The ongoing investigations underscore the vigilance of Singapore’s law enforcement in upholding these regulations.
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