Recent events at Panama Pacifico International Airport have seen customs officials seize thousands of dollars from a traveler who failed to declare the amount of cash he was carrying on a commercial flight from Havana. This marks the third incident of this nature at the airport since the beginning of January.
On this occasion, a Cuban national was caught trying to enter the country with 25,000 balboas (equivalent to 25,000 dollars) that he had not declared on his Digital Sworn Declaration. The situation unfolded when a customs inspector questioned the passenger about the cash he was carrying. The individual claimed to be in possession of only 9,000 balboas (9,000 dollars), which falls within the permissible limit for undeclared amounts.
However, a routine scan revealed discrepancies in a personal bag. A further inspection, conducted with a National Police officer present, uncovered that the money was concealed inside a book, according to a statement from Panama's National Customs Authority (ANA). The 25,000 balboas were immediately confiscated and placed under the custody of the Public Ministry, in accordance with established legal procedures.
This incident adds to two other similar cases recorded at the same airport terminal during January, all involving flights arriving from Havana. Authorities continue to stress the importance of adhering to cash declaration regulations to avoid legal penalties and complications.
The Public Ministry and the ANA are actively investigating these incidents as part of efforts to enhance transparency and prevent illegal activities related to undeclared money movements. The ANA emphasized the critical nature of declaring money accurately upon entering the country, a vital step in preventing money laundering and illegal currency trafficking. Officials have urged all travelers to comply with these regulations to avoid sanctions.
According to the laws of this Central American nation, individuals are allowed to enter with any amount of money, but there is an obligation to declare the amounts if they exceed 10,000 dollars or their equivalent in other currencies, including traveler's checks, bonds, or other documents.
In the case of Cuba, the government restricts the amount of money that can be taken out of the country to just 5,000 dollars.
Understanding Cash Declaration Rules at Panama Pacifico International Airport
Why is it important to declare cash when entering Panama?
Declaring cash when entering Panama is crucial to comply with legal requirements and to prevent illegal activities such as money laundering. Failing to declare amounts exceeding the limit can lead to confiscation and legal penalties.
What are the consequences of not declaring cash in Panama?
Travelers who do not declare cash amounts above the specified limit may face confiscation of the money, fines, and potential legal action. It is essential to adhere to the regulations to avoid such consequences.