Friday , December 6 2019
Home / singapore / Man fined for not reporting S $ 243,000 in cash brought to Singapore

Man fined for not reporting S $ 243,000 in cash brought to Singapore



SINGAPORE (Reuters) – A 43-year-old man was fined $ 6,000 for entering Singapore without reporting that the coins he was carrying exceeded $ 20,000, police said on Monday.

Police said they were warned about the case of a man carrying more than $ 20,000 in Terminal 2 at Changi Airport on November 10 last year.

Ilyas Mohamed, who worked for a money changer, entered Singapore carrying several currencies worth more than $ 243,000, police said. He did not report the amount to an authorized officer.

On January 22, he was convicted and sentenced to a $ 6,000 fine. He could have been fined up to $ 50,000 or imprisoned for up to three years.

It is a statutory requirement in Singapore to declare the physical movement of any money exceeding $ 20,000 in value into or out of Singapore, police said.


Source link