A new currency declaration law for Macau visitors will take effect November 1. Starting on that date, tourists bearing Cross-Boundary Transport of Currency and Bearer Negotiable Instruments of MOP 120,000 (US,000) or more will be required declare the funds to customs officials, according to the Asia Gaming Brief. Departing passengers will need to also declare CBNIs on order by a customs agent.
CBNIs include traveler’s checks, checks, payment orders, promissory notes and other currencies, reported AGB. Violations of the rule may result in fines from MOP 1,000 to MOP 500,000. The new measure is designed to prevent or combat money laundering and terrorist financing.
