SINGAPORE: A man has been fined S$30,000 for failure to report movement of cash into and out of Singapore, the police said on Monday (Oct 21).
Alvin Lee Khai Wui, 37, was convicted on Oct 17 for failing to report movement of more than S$1.18 million cash in and out of Singapore over the course of about two years.
AdvertisementAdvertisementOn Feb 22, 2018, the police were alerted to a man carrying cash amounting to S$300,000 into Singapore at Tuas Checkpoint.
Police investigations revealed that Lee had intended to use the S$300,000 to gamble at a casino in Singapore, and had failed to give a report to an authorised officer on the cash movement.
He had also committed 21 similar offences from June 2017 to Feb 22, 2018.
Anyone who is convicted of failure to report movement of cash can be fined up to S$50,000 or jailed for 3 years, or both.
AdvertisementAdvertisementDeclaration of physical movement of any cash exceeding S$20,000 (or its equivalent in foreign currency) into or out of Singapore is a statutory requirement, and failure to do so constitutes an offence.
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