NASSAU: U.S. Customs and Border Protection has seen a recent spike among Caribbean travelers who are not reporting the required currency amount to CBP officers at ports of entry upon entering or departing the United States.
Individuals are permitted to carry any amount of currency or monetary instruments into or out of the U.S., but if it is $10,000 or higher, they must formally report the currency to CBP using a Department of the Treasury Financial Crimes Enforcement Network FinCEN Form 105.
If travelers have someone else carry the currency or monetary instrument for them, they must file a currency report for the entire amount with CBP. Failure to report carries serious consequences.
“It is important for all travelers to make an accurate declaration of all monetary instruments,” said Jeff Mara, CBP port director for Nassau Preclearance. “Upon a failure to do so, they not only face the possibility of a penalty or seizure of all their funds, but they also face potential criminal prosecution.”
CBP Preclearance operations allow for advance inspection of passengers and special coordination with law enforcement upon arrival to the U.S. Through preclearance, the same immigration, customs and agriculture inspections of international air passengers performed on arrival to the U.S. are instead completed before departure at foreign airports. To keep our borders secure, every traveler entering and exiting a CBP port of entry is subject to a CBP inspection.
CBP stats indicate that on a typical day in 2014, CBP officers around the country seized more than $650,117 in unreported currency.
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