Jul 05, 2017MarketComments Off on NT$320,000 in undeclared cash seized at airport
Taipei--Two Taiwanese women were caught carrying about NT$520,000 (US$17,368) in cash at Taiwan's main international airport without having declared it, and had about NT$320,000 confiscated by customs authorities, Taipei Customs said Wednesday.
The two women, both aged 27, were set to depart from Taiwan Taoyuan International Airport to South Korea, and the undeclared NT$300,000 and NT$223,000 was found in their respective luggage, according to the authorities.
Customs officials returned NT$100,000 to each of the women but seized the remainder.
According to a new amendment to the Money Laundering Control Act that went into effect on June 28, passengers entering or leaving Taiwan with cash in local currency exceeding NT$100,000, foreign currency exceeding US$10,000, or Chinese currency exceeding 20,000 yuan must declare it.