SINGAPORE: A 48-year-old man was fined S$6,000 on Friday (Mar 29) for failing to report movement of currencies valued at more than S$213,000 when entering Singapore last year.
Police said in a news release that they were alerted to "a case of a man carrying cash exceeding S$20,000" at the arrival hall of Changi Airport Terminal 2 on Nov 3, 2018.
AdvertisementInvestigations revealed that Tan Wai Meng, a watch enthusiast, was carrying various currencies worth more than S$213,000 when he entered Singapore, but had not reported this to an authorised officer.
Under the law, it is a requirement to declare the physical movement of any cash exceeding S$20,000 - or its foreign currency equivalent - into or out of Singapore.
Anyone convicted of failing to do so could be fined up to S$50,000, jailed for up to three years or both.
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