DNRE seizes more than 41 million escudos in undeclared currency at Praia airport

2
DNRE seizes more than 41 million escudos in undeclared currency at Praia airport
DNRE seizes more than 41 million escudos in undeclared currency at Praia airport

Africa-Press – Cape verde. During 2023, the National Directorate of State Revenue (DNRE), through the Customs Delegation at Praia International Airport, carried out 17 seizures of undeclared currency, totaling a value of 41,172,103.49 escudos.

According to a statement from DNRE, this amount exceeds the seizures in 2022, which totaled 9,242,049.63 escudos.

The seizures were justified by non-compliance with the legal procedures provided for in paragraph 1 of article 11 of Law no. 120/VIII/2016, of 24 March.

As explained by the same source, this legislation requires the presentation of the “Currency Declaration” form whenever passengers, national or foreign, enter or leave Cape Verdean territory with amounts equal to or greater than one million escudos, or the equivalent in foreign currency.

The seized currency was mainly destined for Lisbon and Dakar.

“Furthermore, this is an action in line with the measures being implemented to detect physical movements of liquid money, including the declaration system, established by the Financial Action Group on Money Laundering (FATF), an intergovernmental body, which aims to design and promote, at an international level, strategies against money laundering and terrorist financing”, reads the statement.

For More News And Analysis About Cape verde Follow Africa-Press

LEAVE A REPLY

Please enter your comment!
Please enter your name here