Singapore fines Malaysian RM15k for failing to declare cash of more than RM180k

SINGAPORE (ANN): A 28-year-old man was fined $5,000 (RM15,053) on Wednesday (March 27) for failing to declare that he was carrying more than $60,000 (RM180, 643) in cash when entering Singapore.

Tee Chen Pang was nabbed at Tuas Checkpoint on March 7 after police were alerted that a man had with him cash exceeding $20,000 (RM60, 214), the police said in a statement on Wednesday.

Tee is understood to be a Malaysia citizen.

It is a statutory requirement to declare movement of cash involving more than $20,000 (RM60, 214) or its equivalent in foreign currency into and out of Singapore.

Tee was found to be carrying Singapore and Malaysia currencies. He had failed to give a report of the cash movement to an authorised officer.

Anyone found guilty of failing to do so could be jailed up to three years, fined up to $50,000 (RM150, 535), or both.

In their statement, the police also reminded the public that failure to declare movement of cash exceeding $20,000 (RM60, 214) constitutes an offence.

Source : TheStar