A South Korean man was fired by a Singapore Court on Tuesday for not properly declaring his casino winnings when attempting to leave the country. Kim Woo Yeong, 28, was fined $30,000 Singapore dollars ($23,000 U.S. dollars) by the court for not having the correct paperwork.
That is how a great vacation can turn into a bad one. Things started out really well for Kim. He won $7 million Singapore dollars ($5.45 million USD) in a Singapore casino. Things quickly turned bad, though, when his uncle asked him to bring the money to him in Macau, where he works in the casino industry.
Kim Woo Yeong then headed to the airport to fly out of Singapore with only the money and a transaction slip from the casino. He had no other documentation, such as the certificate that Singapore requires for bringing money out of the country. Without having the proper paperwork to legally declare the casino winnings, the authorities seized the cash and arrested Kim.
On Tuesday, Kim was fined by the court and released. The casino winnings, minus the amount in fines, will be returned to him. Once he obtains the proper certificate, he is free to leave the country with the winnings.
Let this be a lesson to anyone who travels to another country and visits a casino, or even if you don’t do any gambling. The most important thing is to learn the local laws to make sure you are not in violation. Most countries have strict rules about bringing certain things – especially money – into or out of their country. If Kim had familiarized himself with Singapore’s laws, he could have left the country without being fined or arrested.
