
Why Singapore Enforces Cash‑Declaration Rules and the Penalties for Undeclared Money
Singapore chặn 7 du khách mang theo hơn 156.000 SGD tiền mặt không khai báo
Source: Vnexpress
The Singapore Police Force, Immigration and Checkpoints Authority and Singapore Customs checked close to 13,000 travellers and 350 vehicles at land, air and sea checkpoints, and scanned or searched more than 14,000 pieces of luggage and carry‑on bags, the agencies said in a joint news release on Oct. 5.
The Straits Times reported that they described the operation as part of ongoing efforts to enforce Singapore’s cross‑border cash reporting rules and to detect other illegal cross‑border activities.
According to the agencies, each of the seven was carrying more than S$20,000, the threshold above which cash must be declared, with amounts ranging from S$20,400 to about S$51,000.
CNA reported that the largest sum was found on a 40‑year‑old foreign woman on Sept. 23.
Two of the seven received warnings, three were issued composition fines totalling S$13,000, and the remaining two had their cash seized for further investigation.
Travelers must declare cash or bearer negotiable instruments worth more than S$20,000, or the equivalent in foreign currency, within 72 hours before entering or leaving Singapore, using the MyICA mobile app or the ICA website.
Those who fail to report such sums, or who report them inaccurately, can be fined up to S$50,000, jailed for up to three years, or both, and the cash may be confiscated.
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