Man carrying NT$2.9 million caught at airport

Man carrying NT$2.9 million caught at airport

Taipei, Feb. 3 (CNA) A passenger who hid NT$2.9 million on his person and his carry-on bag was caught by police at Taiwan Taoyuan International Airport on Wednesday when trying to smuggle the cash out of the country, according to airport police.

The man, identified only by his surname Chung, was scheduled to board a flight for Hong Kong departing at 7:25 a.m. but was stopped an X-ray security check when going through immigration.

He was found with NT$1.6 million tied to his waist, NT$1.2 million tied to his thigh and NT$100,000 concealed in his carry-on bag and was forced to cancel his trip.

Taiwan's law requires people traveling in and out of the country to declare foreign currency in their possession that is valued at more than US$10,000, or if they are carrying more than 20,000 Chinese yuan.

Chung admitted that he had not declared the extra cash he was carrying to customs and said he planned to use the money to profit from exchange rate spreads prompted by high demand ahead of the Lunar Yew Year.

The case, the latest of a string of similar incidents since late last year, was being handled by customs authorities.

Airport police have said they suspect that a criminal ring might be behind the incidents. (By C.F. Bian and Flor Wang)

Updated : 2021-03-09 12:34 GMT+08:00