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Customs confiscate over 40,000 Chinese yuan from two men

Customs confiscate over 40,000 Chinese yuan from two men

TAIPEI: Customs officials at Taiwan Taoyuan International Airport confiscated more than 40,000 Chinese yuan (US$5,900) from two men trying to take the undeclared cash out of the country Sunday, the first such seizure since new anti-money laundering rules went into effect on June 28, officials said.

A 47-year-old man surnamed Wang was found to be carrying 30,330 yuan before boarding a China-bound flight, exceeding the legal limit of 20,000 yuan. Customs officials confiscated the outstanding 10,330 yuan from Wang.

The other incident involved a 44-year-old man surnamed Lin, who was found with 54,900 yuan in cash. The “extra-legal” 34,900 yuan was also impounded.

Both men claimed they did not know about the new rules, but Customs urged the public to “understand the relevant rules” before heading to the airport to avoid falling foul of the customs authorities.

Under the new rules, passengers are obliged to declare any cash, securities or other items valued at over NT$100,000, 20,000 Chinese yuan, or US$10,000, or foreign currencies of equal value. Failure to do so could result in confiscation of excessive amounts.