Jakarta –
A citizen from Malaysia, Bryan Woo Kah Hou, was fined S$ 30,000 or US$ 22,500 (equivalent to Rp. 352 million at an exchange rate of Rp. 15,663) by a Singapore court. This was because Woo brought almost S$ 2 million in cash when he arrived in Singapore without reporting the amount accurately.
Singapore implements cross-border cash notification rules. Director of the Department of Commercial Affairs David Chew said this was done as a step by Singapore to prevent money laundering, terrorist financing and other criminal activities.
“All travelers must do their part, including money services businesses whether regulated in Singapore or in other countries, by making complete and accurate cash movement statements,” said Chew, reported by Channel News Asia, Friday (2/2/2024 ).
He said all tourists arriving or departing from Singapore must file a cash activity report in and out of Singapore in any currency exceeding S$20,000.
The report must contain complete and accurate information. Violators can be subject to a maximum prison sentence of three years, a maximum fine of S$50,000, or both.
According to a police news release, Woo had reported carrying an amount of 468,000 Brunei dollars (US$351,000) and S$ 37,500 to Immigration & Checkpoints Authority (ICA) officers on June 20, 2023. Woo admits this is not true because it carries a much larger amount.
He then submitted another form to ICA officers reporting an amount of S$135,000 and about 1.83 million Brunei dollars. However, investigation revealed that this form was also inaccurate.
In fact, Woo took with him more than 1.95 million Brunei dollars and more than S$ 25,000. The total is equivalent to S$ 1,979,053 or IDR 23 billion (at an exchange rate of IDR 11,733).
The cash was confiscated as evidence and for investigation. Woo pleaded guilty in November to two charges under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act. He was charged with moving cash to Singapore exceeding S$20,000 without reporting the amount accurately and completely.
This is the second time Woo has committed such an offense. In June 2023, he had submitted fake forms upon arrival in Singapore carrying 428,000 Brunei dollars and S$30,000. Even though he was actually carrying around S$ 1 million.
Prosecutors filed a confiscation order on Thursday, asking for S$400,000 to be confiscated from the cash he was carrying.
In Deputy Public Prosecutor David Koh’s submission regarding the confiscation, he said the amount was around 20% of the amount that could be confiscated.
“This is important to prove to the wider world that we will strictly enforce the Anti-Money Laundering Act to protect Singapore’s financial system and international standing,” he said.
(the the)
2024-02-02 06:53:59
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