SINGAPORE: A 49-year-old man was fined on Friday (Sep 6) for failing to declare that he was carrying US$440,000 in cash when entering Singapore.
Police were alerted on Apr 12 last year that Zhang Jizhong was carrying a large amount of cash at the arrival hall of Changi Airport Terminal 2.
Investigations revealed that Zhang had brought in US$440,000 in cash - valued at more than S$576,000 at that time - and had failed to “give a report to an authorised officer”, Singapore Police Force said in a news release on Friday.
Zhang was convicted and fined S$8,000.
He could have been jailed for up to three years, fined a maximum of S$50,000, or both.
“The police would like to remind the public of the statutory requirement to declare the physical movement of any cash exceeding S$20,000 (or its equivalent in foreign currency) into or out of Singapore, and failure to do so constitutes an offence,” the news release added.