Millions in Cash Flow Through Cyprus Airports and Ports

Millions in Cash Flow Through Cyprus Airports and Ports

Undeclared Funds Detected by Customs Authorities

Millions of euros in cash are transported annually through Cyprus airports and ports, according to data from the Ministry of Finance. Significant sums have been discovered during Customs checks, as passengers often fail to declare them, either deliberately or accidentally, upon arrival or departure from Cyprus.

In response to a parliamentary question from MP Nikos Georgiou, the Ministry of Finance provided data to the parliament concerning the amounts declared at ports, marinas, and airports, as well as those discovered during Customs checks.

According to the Department of Customs, individuals entering or leaving the borders of the Republic of Cyprus are required to declare amounts exceeding €10,000. If these amounts surpass €100,000, the Department of Customs is obliged to notify the police.

Over €3 Million Detected in Checks

Large sums have been found on passengers arriving at or departing from Cypriot airports and ports, who failed to declare them, whether intentionally or not. However, this number is relatively small compared to the millions of euros transported illegally but never detected.

The Ministry of Finance's data reveals that from 2019 to the present, €3,425,418 have been discovered through Customs checks, which passengers failed to declare upon arrival or departure.

Additionally, over the past five years, €1,829,987 in unaccompanied cash has been discovered.

Over €100 Million Declared

In the last 15 months, more than €105 million have been declared to the Department of Customs by passengers at Cypriot airports, as stated during recent discussions in the Parliamentary Committee on Institutions.

Furthermore, from 2019 to the present, another €1,926,047 have been declared at marinas and ports.

Loader