More than €20,000 in cash was held by customs at Larnaca after being discovered in the possession of a passenger who had not declared his intention to export it, police said Friday.
“Members of the police carried out a search on Thursday evening on a 38-year-old passenger who presented himself at Larnaca airport with intent to travel to another destination,” police said.
“During the check, it was discovered the 38-year-old was found to have the sum of €21,500 in cash in his possession, money which he had not declared to the relevant authorities.”
Police said the man was taken to the customs department at Larnaca airport where the amount was seized pending an investigation of the case.
The capital movement law specifies that cash in any currency or gold up to the value of €10,000 may be freely imported or exported into and out of the island.
Strict anti-money laundering regulations operated by the central bank of Cyprus dictate that any sums higher than that, especially those in cash, must be declared to customs and excise at the port of entry or exit.