Man fined for not reporting S$232,000 in cash when leaving Singapore

Man fined for not reporting S$232,000 in cash when leaving Singapore

SINGAPORE: A 31-year-old man was convicted on Wednesday (May 15) of failing to report that he was carrying more than S$232,000 in cash when leaving Singapore, police said.

Yiu Hoi Tung was fined S$7,000.

Police said it was alerted on Nov 16, 2018 to a man carrying a large amount of cash at Changi Airport Terminal 1.

“Investigations revealed that Yiu Hoi Tung was carrying different currencies worth more than S$232,000 when he was attempting to leave Singapore and had failed to give a report to an authorised officer in respect of the cash movement,” it said.

Police reminded members of the public that it is a statutory requirement to declare the physical movement of cash exceeding S$20,000 or its equivalent in foreign currency when departing Singapore.

Those who fail to do so could be fined up to S$50,000, jailed up to three years or both.

Source: CNA/ga(hm)

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