SARS Customs makes massive currency bust of R 9,2 million

 
Pretoria, 22 December 2016 – SARS Customs made a massive currency bust of 660 000 US dollars to the value of R9,2 Million at OR Tambo International Airport on Monday.
 
The amount was stashed in denominations of 20, 50 and 100 dollar bills in two cooler bags, and found in the luggage of a sixty-year old male passenger.
 
Customs officers received information that the passenger, en route to Indonesia via Dubai, was in possession of undeclared currency. 
 
The passenger was formally charged with smuggling and failure to declare goods in contravention of the Customs and Excise Act.  A criminal case has been registered with the Department of Priority Crime Investigations (The Hawks).
 
 
Foreign currency threshold for residents leaving South Africa:
 
The amount of foreign currency that South African residents may have in their possession when leaving the country, is to the value of R160 000 per adult and R 50 000 per child under the age of twelve, per calendar year.
 
When taking currency out of the country,  prior clearance from an authorised dealer on an official letterhead must be produced to Customs. Without such clearance only an amount equalling R25 000 is allowed per person.