Indonesian duo stopped at Singapore Cruise Centre with $35k in undeclared cash
SINGAPORE – Two Indonesian women who tried to bring more than $35,600 in undeclared foreign currencies into Singapore were stopped by the authorities last Wednesday after getting off a ferry at the Singapore Cruise Centre.
The money was discovered only after an X-ray scan of the baggage prompted ICA officers to conduct a thorough check.Travellers entering or leaving Singapore are required by law to submit a report to the police if they are carrying physical currency and bearer negotiable instruments, such as cheques or bills of exchange, worth more than $20,000, or its equivalent in foreign currency.
Failing to do so is an offence that could lead to a fine of up to $50,000, a jail term of up to three years, or both.“This reporting requirement is part of the efforts to combat international money laundering and terrorism financing,” said the ICA.
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