A Honduran Citizen at Panama’s Tocumen Airport was caught with $18,000 of Undeclared Cash

The National Customs Authority reported this Wednesday, April 30, that inspectors detected a Honduran citizen with undeclared $18,000 at Tocumen International Airport.  In a Customs statement, it was noted that the Honduran citizen appeared nervous, and a second inspection was carried out, which led to the location of the hidden money.

In Panama, if you are entering or leaving the country with cash, traveler’s checks, bonds, or other documents exceeding $10,000 (or its equivalent in other currencies), you are required to declare it to customs. Failing to declare such amounts can result in fines, legal sanctions, and even the confiscation of the undeclared money. In serious cases, it could lead to charges related to money laundering or illegal currency trafficking. 

Here’s a more detailed explanation:

• Declaration Requirement:Panama’s customs regulations require that you declare any cash, traveler’s checks, bonds, or other documents exceeding $10,000 (or its equivalent in other currencies) upon entering or leaving the country. This declaration is for control purposes, regardless of whether the money has been previously deposited in the airport bank. 
• Consequences of Non-Declaration:Failing to declare such amounts can have serious consequences. You may face fines, legal sanctions, and the potential confiscation of the undeclared money. In more severe cases, there could be charges related to money laundering or illegal currency trafficking. 
• Example:A Cuban citizen was recently sentenced for violating customs regulations in Panama after failing to declare cash, according to CiberCuba. 
• TSA Screening:The TSA may also conduct further screening and questioning if they suspect the cash is wrapped unusually or appears suspicious, especially when dealing with large sums of money. They may ask about the origin and purpose of the funds.