Man fined for not declaring over $7m cash
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Man fined for not declaring over $7m cash when leaving S'pore
SINGAPORE : A South Korean man caught trying to move S$7 million worth of casino winnings out of Singapore in travel bags at Changi Airport was fined on Tuesday.
This case is believed to be the largest amount of undeclared money a person has tried to smuggle out of Singapore.
Kim Wooyeong, who is based in the Philippines, was caught at the Changi Airport Budget Terminal at around 5am on August 24 with cash amounting to more than S$7 million in his bags.
Anyone moving cash amounting to more than S$30,000 in or out of the country would have to declare the money.
It is part of Singapore's efforts to combat money laundering, terrorism financing and other transnational crimes.
The court heard that security officers at the terminal noticed that Kim's two bags contained paper as they were scanned at an X-ray screening machine.
The money was uncovered during a physical search and Kim said that they were casino winnings.
Kim added that his uncle, 43-year-old businessman Park Dong Choel, had won the money in Singapore and that he was helping his relative to bring the cash out of the country.
Kim had consulted a business development executive - Terry Kim Taesoo, 28 - from Marina Bay Sands about how he could take the money out of Singapore.
The officer replied that Kim had to complete a declaration form which can be obtained beside a cash-out counter at the casino.
He also had to give a report for carrying the cash out.
Kim did not heed this advice and was caught red handed with the money.
He was fined S$30,000 on Tuesday for not declaring the cash.
He could have been jailed up to three years, fined a maximum of S$50,000 or both. - CNA /ls -
What a moron.
All he had to do was to fill out some forms and to submit it to the customs officials at the airport.
And he can't say he didn't know any better - he was advised on what to do.
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He won money at MBS but lost $30,000 exiting the customs of Singapore.
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30k is spare change for $7000000.
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paid the fine lor
30k is small peanuts for the korean guy
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i think his uncle will give him a telling off.
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If I were the customs officer, 100k per officer, and I'll let him thru. Please don't gimme the "if i get caught i go to jail" bullshit crap.
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Fail!!!
All your bags have to pass through the x-ray machine.
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There is something that will confirm catch the customs officer eyes.... Yusof Ishak!!!
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Like they say, criminals dont think of the future, they only think of the present.
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Originally posted by ditzy:
If I were the customs officer, 100k per officer, and I'll let him thru. Please don't gimme the "if i get caught i go to jail" bullshit crap.
The PAP should pay you millions a year (like the Ministers) so that you would not be corrupt.
If you are paid SG$1 million, I am sure you will no longer accept the bribe.
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Very stupid of him.
Something not right.
Must be some motive.
Or else, can declare, issue cheque or bank in before returning to his country.
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The impt thing is what the customs do with the 30k?
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Previously there were a few topics about gambling... alot of smart alex saying gambling is sure lose and it's very hard to debate with them... I am NOT condoning and NOT encouraging gambling but this thread is simply proof against those smart alex statements. Gambling have its own winners and losers. The recent world poker series tournament competition, the winner got US$9 million and the runner up about US$4 million.
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but the rest lost.... yeah... in gambling... its about luck... some lose a lot... some win a lot.. the banker wins the most.
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Originally posted by blowfish:
The impt thing is what the customs do with the 30k?
30K....have a dinner buffet for everybody. -
Why Budget Terminal?
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Originally posted by Toiletries:
Why Budget Terminal?
came in with the last $100 ... went off with $7 million...