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November 12, 2013

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Man tried to bring in 905,000 euro cash

A BUSINESSMAN discovered bringing 905,000 euros (US$1.21 million) in cash into Shanghai from Italy has received an administrative punishment, customs officials said yesterday.

Such a punishment can include a warning and a fine of up to 20 percent of the total amount of cash involved.

It was discovered during a luggage check by the customs at the Pudong International Airport last Tuesday.

Officials said this is the largest sum they have seized in the past five years.

The passenger, from Wenzhou City in neighboring Zhejiang Province, was on a flight from Rome.

The cash was wrapped in newspaper, inspectors said.

The businessman, whose name was not revealed, said the money was goods payment from his Italian client.

He claimed that he didn’t know that passengers can bring foreign currency totalling no more than US$5,000 back into China.

Between January and October, Shanghai customs discovered 263 cases of passengers bringing in too much cash — 2.7 times the number of last year.



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