GOVERNMENT ISSUES REGULATION NOTICE ON DECLARATION OF CURRENCY AND GOODS AT BORDERS

The Malawi Government has issued Regulations (under Government Notice N0. 42) requiring travellers to declare currency and goods in their possession at the ports of entry or exit from the country. The Regulations on currency and goods declaration are part of a number of regulations known as Customs and Excise (Amendment) Regulations 2013 which were gazetted on 27th September 2013.

This means that all travellers shall be required to make declarations on a form known as Currency and Goods Declaration Form, or Form Number 47, at the airports or border posts.

Among others, travellers will be required to declare currency, precious stones, precious metals, share certificates, postal orders, other negotiable bearer instruments, source of the currency or the goods and evidence, list of goods obtained abroad and being brought to Malawi, and other valuables in excess of US$5,000.

The declaration requirement is in line with Section 38 of the Money Laundering Act, Proceeds of Serious Crime and Terrorist Financing Act (ML Act); Section 18 of the Immigration Act; Section 25(1) of the Exchange Control Act; and Sections 29, 30, 50 and 51 of the Customs and Excise Act.

Section 38 of the ML Act says that any person who leaves or arrives in Malawi with more than an amount in currency or negotiable bearer instruments as may be prescribed by the Minister by notice published in the Gazette, on his her person or in his or her luggage shall report the fact to an authorized officer (police or customs officer) at the port of his or her departure or arrival as the case may be; and the authorized officer shall without delay send a copy of the currency report to the Financial Intelligence Unit.

The ML Act further provides that, based on reasonable grounds, an authorized officer may seize currency or negotiable bearer instruments which may be connected to offences of money laundering or financing of terrorism or other serious offences.

By issuing these Regulations, the Malawi Government is not preventing people from carrying sums of money with them or carrying important goods. The currencies and goods must be duly declared. Travellers may have legitimate reasons for carrying with them the currencies and goods but these must be declared to authorities and be verified before letting them pass through ports of entry and exit.

The authorities have the responsibility of ensuring that the money people carry around comes from legitimate sources and is intended for legitimate purposes.

Non-declaration of currency and negotiable bearer instruments and providing false or misleading information is an offence under the ML Act and may attract a penalty of K50,000 fine for a natural person or six months imprisonment while a penalty for a corporation is a fine of K100,000, as well as seizure and confiscation of the currency.

The gazetting of the Regulations on declaration of currency and goods at the ports is a very important development as it will further promote combating of money laundering and terrorist financing in the country.

The FIU, the Malawi Revenue Authority (MRA) and the Reserve Bank of Malawi will soon engage in a series of training workshops and public awareness activities. The training will target customs, police and immigration officers on how they should implement the currency and goods declaration and reporting to the FIU.

News & Updates

This page was last updated on GOVERNMENT ISSUES REGULATIONS ON DECLARATION OF CURRENCY AND GOODS AT BORDERS The Malawi Government has issued Regulations (under Government Notice N0. 42) requiring travellers to declare currency and goods in their possession at the ports of entry or exit from the country...
CHURCH AID MALAWI TO BE SENSITISED ON AML/CFT Staff of Church Aid Malawi will on 10 December 2013 be sensitized on anti-money laundering and combating the financing of terrorism (AML/CFT)...
PRESS RELEASE 18/10/2013 The Financial Intelligence Unit (FIU) appeared before the Public Accounts Committee of Parliament on Wednesday, 16th October 2013, where the Committee wanted to know what the institution was doing in relation to the reported fraud scam at the Capital Hill. Following this, the FIU wishes to share with the nation what it has done so far...
BLOCKING OF BANK ACCOUNTS The Financial Intelligence Unit (FIU) is informing all commercial bank customers who have not yet updated information on their accounts that this MUST be done by the 31st of October, 2013...
FIU PRESS RELEASE The Financial Intelligence Unit (FIU) clarifies its role ...
'It is an honour to host other FIUs' Six officials from Botswana and Tanzania were in this country for an anti-money laundering and combating the financing of terrorism (AML/CFT) study visit at the Malawi FIU from 7th to 11th October 2013. Two were from Botswana while four from Tanzania...
FIU to train TNM, SML and UGI in October 2013 The FIU will on different dates this month conduct anti-money laundering and combating the financing of terrorism (AML/CFT) training workshops for Telekom Networks Malawi (TNM) Ltd, Stockbrokers Malawi Ltd (SML) and United General Insurance (UGI). The trainings, to take place in Blantyre, will be done at the request of the three institutions...
ML Act Under Review The Money Laundering, Proceeds of Serious Crime and Terrorist Financing Act (ML Act) is under to align it with Financial Action Task Force (FATF) Recommendations which were revised in 2012. The Act will also help fill in the gaps as noted during implementation since its enactment in 2006...
World Bank commends Malawi for conducting National ML & TF Risk Assessment The World Bank Malawi Office has commended Malawi for carrying out a Money Laundering and Terrorist financing National Risk Assessment (NRA)...
FIU and RBM to conduct onsite examination of NICO Life The Financial Intelligence Unit (FIU) and Reserve bank of Malawi will conduct onsite examination of NICO Life Insurance Ltd from 28th October to 5th November 2013...