PHILADELPHIA: A “local” man lost $50,000 in unreported currency after it was seized by U.S. Customs and Border Protection (CBP) officers at Philadelphia International Airport for violating currency reporting regulations, according to the federal agency.
The unnamed man, who arrived in Philadelphia following a flight from Frankfurt, Germany, was not criminally charged. CBP officers released him with $303 for “humanitarian purposes,” according to a release.
Officers gave the man and his baggage — several shopping bags and a carry-on bag — a comprehensive secondary examination.
He declared both written and verbally that he possessed no currency. As CBP officers were inspecting his baggage, the man reportedly said he had a “couple hundred dollars.” A CBP officer then reportedly found a stack of currency concealed inside a toiletry bag, which prompted the man to declare $50,000; the inspection revealed a total of $50,303, according to a release.
“There is no limit to how much currency travelers may bring to, or take from, the U.S. However, federal law requires travelers to complete financial reporting forms for any amount that exceeds $10,000 in U.S. dollars or equivalent foreign currency,” the release adds
Travelers who fail to comply with those requirements requirements may see their currency seized and possibly criminal charges lodged against them. They are also given multiple opportunities to declare currency.
The CBP also conducts inspection operations on arriving and departing international flights and intercepts narcotics, weapons, prohibited agriculture products and other illicit items.
