Today, a story came out of Orlando, Florida, about a pretty large cash seizure. The story — which is light on the details about where they were from or where they were going — is a classic case failure to report combined with a bulk cash smuggling offense.
It is a failure to report because they did not file the FinCen 105 upon entry or departure with the customs officer in charge of the airport. It is also a failure to report because when stopped, they made an inaccurate declaration as to the amount seized; the reported first $15,000, then $51,000, but were ultimately found with $72,000.
It will likely be seized because the money was not reported — and mis-reported — and also hidden from view, such as someone might hide it prevent to discovery by CBP. These two elements — failure to report and hiding — will allow CBP to presume that the money was hidden with the intent it not be reported to CBP, which is the essence of a bulk cash smuggling offense.
Here’s the story:
U.S. Customs and Border Protection (CBP) in Florida reminds travelers of the requirement to report currency amounts of $10,000 or more to CBP when traveling to or from the United States. CBP officers seized over $72,000 in unreported currency from a traveler at Orlando International Airport (MCO) for failing to declare this week.
The individual initially said they possessed $15,000 to CBP officers and further misstated the amount as $51,000 in writing. CBP officers subsequently discovered bundles of cash inside a backpack.
International travelers who arrive or depart the United States in possession of more than $10,000 or equivalent foreign currency are required to report all currency to CBP officers and complete a Treasury Department Financial Crimes Enforcement Network (FinCEN) form.
Consequences for violating U.S. currency reporting laws are severe and may result in seizure of the currency and/or arrest.
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