SAN JUAN, Puerto Rico- US Customs and Border Protection seized over the weekend 205,913 in US dollars concealed on the roof of a vehicle bound to Santo Domingo.
During the x-ray scanning of outbound vehicles bound to board the M/V Chihuahua Star, a Ford E350 was selected for secondary inspection.
The driver declared carrying only 4,500 US dollars. The physically inspection of the vehicle revealed currency concealed on the roof area of the cargo compartment in the vehicle; was removed and a final count of currency including the amount the subject initially declared amounted to $205,913.
CBP seized the currency.
It is legal to transport any amount of currency or other monetary instruments into or out of the United States.
Nonetheless, transporting, attempting to transport, or cause to be transported currency or other monetary instruments in an aggregate amount exceeding $10,000, or its foreign equivalent, at one time from the United States to any foreign country, or into the United States from any foreign country; a report must be filed with U.S. Customs and Border Protection.
Reporting is required under the Currency and Foreign Transaction Reporting Act, 31 U.S.C. 5311, et seq.; failure to comply can result in civil and criminal penalties and may lead to forfeiture of your monetary instrument(s).
Monetary instruments include:
1) U.S. or foreign coins and currency;
2) Traveler checks in any form;
3) Negotiable instruments (including checks, promissory notes, and money orders) that are either in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in a form that the funds can be transferred to another person;
4) Incomplete instruments (including checks, promissory notes, and money orders) signed, but with the payee’s name omitted; and
5) Securities or stock in bearer form or otherwise in a form that the funds can be transferred to another person.
However, the term “monetary instruments” does not include:
1) Checks or money orders made payable to the order of a named person, which have not been endorsed, or which bear restrictive endorsements;
2) Warehouse receipts; or
3) Bills of lading.