SINGAPORE - A 28-year-old man was fined $5,000 on Wednesday (March 27) for failing to declare that he was carrying more than $60,000 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, 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 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, or both.
In their statement, the police also reminded the public that failure to declare movement of cash exceeding $20,000 constitutes an offence.