Since this thread mentioned obtaining traveler's checks in $1,000 denominations to be brought to Thailand for deposit into a Thai bank, I thought I might pass on a word of caution if anyone should plan to carry more than $10,000 (total of currency, traveler's checks) with them when departing the U.S. US money laundering laws require any person carrying monetary instruments totaling over $10,000 to file a report with US Customs before departure - there is nothing illegal in transporting such amounts, but if it is not reported, it is subject to seizure and forfeiture. In addition, the law provides for imprisonment for not more than 10 years, and/or a fine up to $500,000 for failing to report, making a material misrepresentation in a report, or filing a false report.
Although I have not seen it often, I have observed Customs officers checking boarding passengers (I wouldn't suggest racial profiling, but I noticed they seemed to be stopping and questioning mostly certain ethnic groups) - just once did they stop me - asked my final destination and purpose of travel, and if I was carrying more than $10,000 - after answering, I proceeded down the jetway - however, I noticed that for some folks (as previously noted), the Customs officers looked throught their handcarry luggage.
I'm not sure, but I think Thailand also has a reporting requirement for bringing in or taking out similar amounts. So, if you are contemplating carrying that much with you, the risk of being caught is probably slim - but, why take the risk [note: if you obtain your traveler checks at one time in excess of $10,000 - the bank/auto club/etc. is required to make a similar report to the US Treasury Dept - another word of caution - if a person structures their transaction to avoid the bank/etc. filing the report, e.g. by making two or more smaller transactions within a short period of time, that is also a violation of the money laundering laws.
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Originally Posted by 2lz2p
