SINGAPORE — A Malaysian woman who attempted to bring into Singapore more than $20,000 of undeclared currencies was stopped by the authorities at Woodlands Checkpoint on April 25. The woman was entering Singapore by car, the Immigration and Checkpoints Authority (ICA) said in a Facebook post on Saturday. 'Officers had profiled the Malaysia-registered vehicle for thorough checks and uncovered stacks...
Officers uncovered stacks of currencies wrapped in a plastic bag, placed inside the centre console of the car the woman was in.SINGAPORE — A Malaysian woman who attempted to bring into Singapore more than $20,000 of undeclared currencies was stopped by the authorities at Woodlands Checkpoint on April 25.
The woman was entering Singapore by car, the Immigration and Checkpoints Authority said in a Facebook post on Saturday. "Officers had profiled the Malaysia-registered vehicle for thorough checks and uncovered stacks of currencies wrapped in a pink plastic bag, placed inside the vehicle's centre console," it said.Under the law, travellers entering or leaving Singapore carrying physical currency and bearer negotiable instruments - such as a cheque or bearer form — exceeding $20,000, or its equivalent in a foreign currency, are required to submit a report to the police.
"This reporting requirement is part of the efforts to combat international money laundering and terrorism financing," ICA said. The failure to report is an offence that carries a fine of up to $50,000, a jail term of up to three years, or both. The items may also be seized and upon conviction, may also be confiscated.
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