If you are entering or leaving Singapore carrying a total value of Physical Currency and Bearer Negotiable Instruments (CBNI)* exceeding S$20,000 (or its equivalent in a foreign currency), you are required by law to submit a full and accurate report to the Singapore Police Force. The requirement to report will apply when you are carrying the CBNI for yourself, on behalf of any other person, travelling alone or with other persons.
It will be an offence under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992, if you fail to submit a full and accurate report. You could face:
- A fine of up to S$50,000 or imprisonment for up to three years or both; and
- The CBNI may be seized and/or confiscated upon conviction.
*‘Physical currency’ refers to coins and printed money. Examples of bearer negotiable instruments include a bill of exchange, cheques pay to “Cash”, cheques with “or bearer” not crossed out, promissory note, bearer bond, money order and postal order.
