what will happen if i don't declare at the customs if the foreign currency i bought into

Question

What will happen if I don't declare at the customs if the foreign currency I bought into China is more than USD5000? Let's say USD10,000 and I don't intend to take out of China after that. What will be the penalty if caught with too much foreign currency on hand at customs? Thanks.

Mr.zhangming · Answer

I think, if the people does not know that there are certain limitation on the amount of money, the result is that  the extra money will be forfeited. But for people like you, who has already know the regulation but still take a lot of money withour declaration, i think you may prepare to spend serveral months or years in the prison. By the way, all the money may be forfeited.

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