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Would you risk travelling with R78 million in suitcases?

Wednesday, 02 September 2015   (0 Comments)
Posted by: Author: Ingé Lamprecht
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Author: Ingé Lamprecht (Moneyweb)

SARS confiscates undeclared currency at OR Tambo. SARS confiscates undeclared currency at OR Tambo.

A group of five South African citizens en route to Dubai got a fright on Friday when customs officials at OR Tambo International Airport confiscated their undeclared currency to the value of approximately R78 million.

The individuals were business people (hawkers) who wanted to use the money to buy stock in Dubai that they could sell in South Africa.

According to a statement issued by the South African Revenue Service (SARS), they were in possession of R23 million and $3.775 million in undeclared currency, which was transported in eight hand luggage bags and four backpacks (see images at the bottom of the article).

Luther Lebelo, spokesperson for SARS, says the identities of the individuals are being withheld.

SARS customs officials identified the individuals following a risk profiling exercise.

"Upon noticing the SARS officials, the passengers retreated and headed back to the entrance of the boarding gate. At this point, officials closed the boarding gate door and the passengers were compelled to wait for the SARS officials.

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