Cash Caught at Changi: Traveller Found with Undeclared Funds

In a recent incident at Changi Airport Terminal 1 on May 7, a traveller was caught with a substantial amount of undeclared cash, exceeding SGD75,166 in value. The case was subsequently referred to the Singapore Police Force for further investigation.

This incident highlights the importance of complying with Singapore’s laws and regulations regarding the declaration of cash and bearer negotiable instruments (CBNI) when entering or leaving the country. As part of efforts to combat money laundering and terrorism financing, travellers are required to submit a full and accurate report declaration if they are carrying a total value of CBNI exceeding S$20,000 (or its equivalent in foreign currency).

It is crucial for travellers to understand that they must declare CBNI, including physical currency, bearer bonds, cheques, and other instruments, if the total value exceeds the specified threshold. Failure to do so can result in serious consequences, including a fine of up to S$50,000, imprisonment for up to three years, or both. Additionally, the undeclared CBNI may be seized and/or confiscated upon conviction.

Travellers are reminded to comply with the law and submit a CBNI declaration (Form NP 727) when carrying large amounts of cash or bearer negotiable instruments. This declaration must be made even if the traveller is carrying the CBNI on behalf of another person or as part of a group. By doing so, individuals can avoid legal repercussions and ensure a smooth journey through Singapore’s borders.

Taking Cash In and Out of Singapore

If you are entering or leaving Singapore carrying a total value of Physical Currency and Bearer Negotiable Instruments (CBNI)¹ exceeding S$20,000 (or its equivalent in a foreign currency), you are required by law to make a CBNI declaration (Form NP 727) by submitting a full and accurate report to the Singapore Police Force. The requirement to declare will apply when you are carrying the CBNI for yourself, on behalf of any other person, travelling alone or with other persons.

It will be an offence under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992, if you fail to submit a full and accurate report. You could face:

• A fine of up to S$50,000 or imprisonment for up to three years or both; and
• The CBNI may be seized and/or confiscated upon conviction.

¹‘Physical currency’ refers to coins and printed money. Examples of bearer negotiable instruments include a bill of exchange, cheques pay to “Cash”, cheques with “or bearer” not crossed out, promissory note, bearer bond, money order and postal order.