CNA Explains: Why must travellers declare S$20,000 cash when entering or leaving Singapore?

Money Laundering News

CNA Explains: Why must travellers declare S$20,000 cash when entering or leaving Singapore?
Singapore Police ForceChangi AirportCNA Explains
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Such declarations are also mandatory in other countries.

at Changi Airport for failing to declare that they were bringing in over S$20,000 in cash into Singapore.and within 72 hours of arriving at or departing Singapore’s checkpoints.One expert pointed to the"anonymity" offered by cash and the"obvious appeal" for those engaged in illegal activities.

Calling the S$20,000 amount reasonable, Mr Rajan said: “In some borderline cases, the authorities may issue a warning. This would require a valid explanation, such as for medical reasons like payment at private hospitals, or a family emergency. They have to be able to give the evidence.” “As the declaration has to be done online within a 72-hour window, this gives them really no excuse not to do it,” noted Mr Rajan. “They cannot, for instance, claim they do not know they are carrying that amount of cash.”

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