Indonesian man arrested at checkpoint for not giving
accurate report of currencies
SINGAPORE : Police have arrested a 49-year-old Indonesian
man for failing to give an accurate report of assorted currencies
found in his possession when he was crossing the
checkpoint.
Cash of over S$80,000 carried by the man was seized.
This took place on Thursday, during a joint operation by the
Singapore Police Force and Immigration and Checkpoints Authority
(ICA) at the Tanah Merah Ferry Terminal.
It was part of efforts to enforce the reporting of cross border
movements of physical currency or bearer negotiable instruments
(CBNI).
This reporting requirement was implemented on 1 November 2007 and
is part of Singapore's overall efforts to combat money laundering,
terrorism financing and other transnational crime.
Police and ICA said that anyone who moves into or out of Singapore
CBNI with a total value exceeding S$30,000 (or its equivalent in a
foreign currency) must give a full and accurate report by filling
in the requisite form and submitting it to the authorities.
The punishment for failing to give a full and accurate report is a
fine of up to S$50,000 or a jail term of up to three years, or
both,
The CBNI may also be seized.
- CNA/ms
