Man fined for failing to declare over $1.18m in cash movement
A 37-year-old man was fined for failing to declare cash of more than $1.18 million he was bringing into and taking out of Singapore over a span of about one year.
Last Thursday, Alvin Lee Khai Wui was fined $30,000 for failing to report the movement of cash.
On Feb 22 last year, police were alerted to a case of a man carrying $300,000 in cash into Singapore at Tuas Checkpoint.
GAMBLE
Investigations revealed that Lee had intended to use the money to gamble at a casino in Singapore and had failed to give a report to an authorised officer about the cash movement.
He had also committed 21 similar offences from June 2017 to February last year.
Anyone who is convicted of failure to report movement of cash is liable to a fine not exceeding $50,000, or can be jailed for up to three years, or to both.
Physical movement of cash of more than $20,000 (or its equivalent in foreign currency) into or out of Singapore has to be declared and failure to do so constitutes an offence.
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