A LAW which would require anyone sending more than the equivalent of 10,000 euros through the post to declare it, and would allow police or customs to temporarily seize cash sums upwards of £1,000 in the mail when illegal activity is suspected, has gone out to consultation.
The Cash in Postal Packets Bill proposes to extend existing legislation and was drawn up as a result of a recommendation made in a report by the International Monetary Fund (IMF) following its 2008 visit to the Isle of Man.
The IMF report highlighted that although large sums of cash already had to be declared when moved in and out of the island by other means, including by plane, this did not cover the post.
The IMF pointed out that the same loophole applied to the police’s and customs authority’s rights to seize. The bill proposes to change the Post Office Act 1993, the Customs and Excise Management Act 1986 and the Proceeds of Crime Act 2008.
Safeguards have been built into the bill, including one which states that any postal packet affected would remain in the control and custody of the Post Office, which would retain responsibility for it and its contents.
The Post Office would be responsible for opening the packet. The aim of this is to allay potential concern over the concept of interference with the post.
Anyone wishing to declare they are sending a large sum in the post will be able to do so by mail, fax or email.
If a large amount of cash is detected entering the island and no declaration has been made, the sender will be contacted to be given an opportunity to do so.
Other safeguards include that sums of money can only be seized by police or customs for 48 hours and if they require an extension to that an application must be made to the High Bailiff, who would decide.
The bill’s consultation period, which began on December 20, will end on January 30.
Send your views and responses to this proposed legislation to Ray Todd, manager, LLCS, The Treasury, Customs and Excise Division, PO Box 6, Custom House, North Quay, Douglas, Isle of Man, IM99 1AG.
Alternatively, email Mr Todd at {mailto:customs@gov.im|customs(at)gov.im}