Woman fined for not reporting movement of more than S$800,000 cash into Singapore

SINGAPORE: A 52-year-old woman has been fined for failing to declare the movement of more than S$800,000 in cash into Singapore, said the Singapore Police Force (SPF) on Tuesday (Mar 23).

The police said they received information on the woman’s activities on Jan 30 last year.

Investigations by officers from the Commercial Affairs Department revealed that she had carried more than S$20,000 in cash when entering Singapore via Changi Airport on 27 occasions between Dec 16, 2015, and Dec 25, 2018.

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The woman was convicted on Monday under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, and fined S$18,000.

“The police would like to remind the public of the statutory requirement to declare the physical movement of any cash exceeding S$20,000, or its equivalent in foreign currency, into or out of Singapore,” SPF said in a news release. “Failure to do so constitutes an offence.”

Those offence carries a fine of up to S$50,000, up to three years in prison, or both.