NEW YORK: Currency and reporting laws were enacted to thwart bulk cash smuggling of drug trafficking organizations, terrorist finance networks and other criminal activities.
Nearly $8 million US in unreported currency at ports of entry within Detroit has been seized by U.S. Customs and Border Protection officers this year, the agency says.
All currency and/or monetary instruments, such as cashier’s cheques, worth $10,000 or more must be reported to a U.S. Customs and Border Protection officer upon arrival into or exiting the United States.Penalties can range from civil fines up to and including seizure of the currency and arrest.
So far this year, U.S. customs officers have seized $7.9 million US at ports of entry within Detroit, which includes the Ambassador Bridge, Windsor-Detroit Tunnel and Metro Airport.
“There is no limit as to how much currency travelers can import or export; however to avoid subjecting the money to seizure, it’s always best to report it and file the proper paperwork,” Christopher Perry, director of field operations for the Detroit U.S. CBP’s field office said in a statement.
Currency and reporting laws were enacted to thwart bulk cash smuggling of drug trafficking organizations, terrorist finance networks and other criminal activities.
The CBP is advising travellers who plan to travel with large amounts of currency or other instruments to check the CBP website at to familiarize themselves with the rules.
In several cases, people get their money back but it involves a lot of paperwork.
