Mooney’s Tips for Traveling with

Money

The Mooney Law Firm, LLC: A National Practice of International Scope: www.Customscourt.com

Money Seizures and Currency Transmitters

Money seizures are almost always a surprise occurrence.

Here, we will walk you through what happens after seizure, the recovery process of your assets & how to avoid seizures altogether. 

So, Your money has been seized by Customs… What happens now?

You will be issued a custody receipt with your case number (FPF No.).

You must wait to be issued a Fines, Penalties and Forfeitures (FPF) Seizure Notice in the form of a letter. This will inform you of the statutes you are in violation of. Once you have this information, you can begin to take the necessary steps to remedy the situation.

Once Customs has your money, their goal is to retain as much of it as possible. To

recover your assets you must file a Petition to remit the funds.

This is where you give Customs the reason(s) the money should be returned, detailing why you did not report the money originally. There are a variety of reasons that can be used in this explanation.

These will be discussed with you by your attorney when drafting your petition to remit seized funds.

There are several mitigating factors for travelers who, for example,:

» Are suffering from a physical or mental disability

» Are inexperienced at traveling» Are from a specific country of origin

Punitive actions for carrying cash equaling to or in excess of $10,000

• Civil• Forfeiture of the money • Small fine (will not

exceed seized possessions)

• Future searches/ detentions/ questioning while traveling

internationally• Criminal• Forfeiture of the money • Fines ranging from

$250,000- $500,000• Prison time, between 5-

10 years

IF YOU ARE FACING THESE CHARGES, CONTACT YOUR LAWYER IMMEDIATELY. DO NOT SPEAK WITH CUSTOMS.

The only irrecoverable funds, by law, are those connected with money laundering schemes, tax evasion or drug trafficking; all other seized cash

may be remitted.

Partnering with an experienced legal team can greatly improve the amount and the speed at which you recover your seized money.

Even if you have already abandoned seized cash, we can still help you

get your money back!

What you should know before you travel so that you can

avoid money seizure altogether.

The Law“Any person, agent, or bailee of a

person must file a report when they are knowingly transporting, or about to transport, monetary instruments of $10,000 or more at a time across international borders.” - 31 USC § 5316

Cash Myths “If someone else traveling with me carries some of the cash, I don’t have to report it.”

FALSE; Customs may treat a family as one unit and may confiscate cash if the total equals or exceeds $10,000.

“I will be taxed on the cash I report.” FALSE; taxes will not be applied to any reported cash.

“My money can not be seized if it’s not U.S. currency.” FALSE; any currency you carry can be seized if it exceeds the allowable limit.

Cash Myths “Since I wasn’t aware of the rule, I cannot be punished.”

FALSE; ignorance is not bliss and can result in seizure.

“I can’t be criminally prosecuted for carrying $10,000 or more in cash if I am re-entering my home country.” FALSE; the law gives provisions for civil and criminal charges if you are suspected of tax evasion, money laundering or drug trafficking.

To report cash, you need to fill out a FinCEN 105 form which is passed out to passengers by request before meeting a Customs agent

You can also verbally declare any amount you are carrying equaling or exceeding

$10,000 to a Customs agent who will then hand you the appropriate form

FinCEN 105 defines currency as: The coin and paper money of the United States or any other country that is

1.Designated as legal tender and that

2.Circulates and 3.Is customarily

accepted as a medium of exchange in the country of issuance.

Currency or Monetary Instruments include: coins and currency of ANY country, signed checks, promissory notes, unendorsed checks, and negotiable investment securities (stocks & bonds)

If you are traveling outside the country with any combination of these that equal or exceed

$10,000 you MUST report the amount

If you are travelling with unsigned checks, checks bearing restrictive endorsements or credit cards with lines of $10,000 or more, these are NOT considered currency and do not need to be reported.

Did you know?

You may be targeted for a “stop and search” for cash by Customs based on your ethnicity, length of

stay, and or itinerary schedule?

They may go through your belongings, search any envelopes, or

containers, or search anyone traveling with you.

Customs has the right to detain, interrogate and search your person without a warrant if they suspect you have in your possession an amount totaling to, or in excess of $10,000

Upon seizing funds, Customs may accuse you of being an illegal Money Transmitter

Legal Money Transmitters provide money transmission services for consumer to consumer or consumer to business transactions.

The term ‘‘money transmission services’’ means the acceptance of currency, funds, or other value that substitutes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means

Illegal money transmitters are those who are carrying cash for another

person without a license. Charging of this action is considered a civil offense.

We have almost 20 years of experience in dealing with Customs. For legal questions and case specific

issues, please contact our office today at (800) 583-0250 to speak with our

expert attorneys. The Mooney Law Firm LLC

http://www.customscourt.com/