Residents told they must declare money transfers

Wed, 13 Apr 2016

People transferring large sums of money in or out of the Island are being reminded they must declare it.

Customs and Excise say cash should be reported if it amounts to €10,000 or more in any currency.

Undeclared banknotes or coins, postal orders or cheques sent by any mode of transportation may be seized and penalties could be applied.

The measure excludes cheques drawn from a British or Irish Bank.