A Cuban national was caught carrying a large sum of undeclared cash at Panama Pacifico International Airport. The National Customs Authority of Panama reported that during a routine check, $10,406 was confiscated after discovering an undeclared excess that exceeded the legal threshold for entering the country without prior declaration.
Customs Control Process: From Denial to Discovery
According to the official statement, the incident unfolded during a standard immigration and customs control operation. The passenger, arriving on a flight from Cuba, was repeatedly questioned by inspectors about the amount of cash or valuables she was carrying. Under Panama's current regulations, anyone entering the country with 10,000 balboas or more (or its equivalent in foreign currency) must declare the amount to customs authorities.
Initially, the Cuban woman firmly denied carrying an amount equal to or exceeding the set limit. However, when she reached the security scanner, she was asked to place all her belongings on the tray, at which point she changed her story, admitting to having $6,000 in cash.
Discovery of the Excess Amount
During a physical inspection of the traveler's belongings, the on-duty inspector discovered that the actual cash amount exceeded $10,000, totaling precisely $10,406. This finding triggered the protocol established by the National Customs Authority for such situations. The money was promptly seized in accordance with existing regulations due to the failure to declare it.
The customs entity stated, "The cash was retained in compliance with the current regulations regarding the control of value entry." An inspector from the Directorate of Judicial Investigation (DIJ) also participated in verifying the amount and securing the money.
As per protocol, the case was handed over to the Public Ministry, which will determine the legal implications of the violation, as well as the potential permanent confiscation of the money or its conditional return following a comprehensive investigation.
Call for Transparency and Legal Compliance
This incident highlights the importance of adhering to regulations on transporting cash when entering Panama. The National Customs Authority reiterates the requirement to declare "any amount exceeding 10,000 balboas or its foreign currency equivalent" to promote transparency and prevent financial crimes, such as money laundering or illegal financing.
Due to its geographical location and role as a regional logistics hub, Panama enforces strict controls over the flow of money across its borders. Passengers are advised to be well-informed before entering or leaving the country with substantial sums of cash.
Similar Incidents Earlier This Year
In January, another Cuban citizen was caught attempting to enter the country with 25,000 balboas ($25,000) that had not been declared in his Digital Affidavit. During a customs inspection, the passenger claimed to carry only 9,000 balboas ($9,000), which is within the allowed limit without declaration. However, routine scanning revealed discrepancies in a personal bag.
A secondary inspection, conducted in the presence of a National Police officer, uncovered the money hidden inside a book, as reported by Panama's National Customs Authority (ANA). Authorities continue to remind travelers of the importance of complying with money declaration regulations to avoid legal penalties and complications.
The Public Ministry and the ANA typically investigate these incidents to reinforce transparency and prevent illicit activities related to undeclared money movement. The ANA emphasizes the necessity of accurately declaring cash when entering the country, a crucial step in preventing money laundering and illegal currency trafficking.
Panamanian authorities urge all travelers to adhere to these regulations to avoid penalties. Under the laws of the Central American country, any amount of money can be brought in, but there is an obligation to declare amounts exceeding $10,000 or its equivalent in other currencies, including traveler's checks, bonds, or other documents.
In contrast, the Cuban government allows only $5,000 to be taken out of the country.
Frequently Asked Questions about Customs Regulations in Panama
What is the threshold for declaring cash in Panama?
In Panama, any person entering the country with 10,000 balboas or more, or its equivalent in foreign currency, must declare this amount to customs authorities.
What are the consequences of not declaring cash in Panama?
Failing to declare cash exceeding the legal threshold can result in the seizure of the money, legal investigations, and potential penalties, including permanent confiscation.
Why are cash declaration rules important in Panama?
These regulations are crucial for promoting transparency, preventing money laundering, and curbing the funding of illicit activities, keeping Panama's financial system secure.