DETROIT— U.S. Customs and Border Protection (CBP), Office of Field Operations (OFO) highly recommends passengers who are transporting currency in excess of $10,000, to make a report to CBP.
The transport of any currency and/or monetary instruments (i.e. cashier’s checks) over $10,000 must be reported to a CBP Officer upon arrival into or exiting the United States. Penalties can range from civil fines up to and including seizure of the currency and arrest.
“There is no limit as to how much currency travelers can import or export; however to avoid exposing the money to seizure, it’s always best to report it and file the proper paperwork” said Christopher Perry, Director of Field Operations for the Detroit Field Office.
So far this fiscal year which began October 1, ports within the Detroit Field Office have seized more than $4.4 million dollars, an 8 percent increase over the same time frame last fiscal year.
Currency and reporting laws were enacted to thwart bulk cash smuggling of drug trafficking organizations, terrorist finance networks and other criminal activities. CBP is advising travelers who plan to travel with large amounts of currency or other instruments to check the CBP.gov website.
Travelers are further encouraged to visit the Department of Treasury’s Financial Crimes Enforcement Network FINCEN website to learn more about the currency reporting form.
U.S. Customs and Border Protection is the unified border agency within the Department of Homeland Security charged with the management, control and protection of our nation's borders at and between the official ports of entry. CBP is charged with keeping terrorists and terrorist weapons out of the country while enforcing hundreds of U.S. laws.