Customs Agents seize undeclared cash at the airport

Customs Agents seize undeclared cash at the airport

Wednesday, January 26 2011 @ 04:19 PM EST
Contributed by: Don Winner
Views: 61
Inspectors of the National Customs Authority seized on Wednesday at the Tocumen International Airport undeclared cash from a Colombian who tried to enter Panama on a commercial flight. The foreigner declared $21,250 dollars but when Customs inspectors were reviewing his luggage they found an additional $4,067 stuffed in a sock. Every traveler has the obligation to declare any amount exceeding $10,000 in cash or securities. Anyone who fails to properly declare all cash in this manner can have the money seized, and they are also exposed to customs penalties. In the early days of 2011 there have already been five cases of money seizures – involving three Colombians, an Argentine and a Haitian. (La Critica)
Editor’s Comment: I cover these kinds of stories every now and again simply to remind people that if you want to come into Panama carrying cash – that’s fine – but you damn well better declare it at the airport or risk having it seized. I don’t understand why this guy declared $21,250 but tried to hide the other $4,067. Who knows. But anyway, his decision to do it that way resulted in the loss of all of the money. Whoops.