[gsc] Cash "smuggling" seizures grow quickly

[DGCMP]

http://www.upi.com/Top_News/2009/08/16/Cash-smuggling-seizures-grow-quickly/UPI-72271250462396/

BOSTON, Aug. 16 (UPI) -- The smuggling of cash into and out of the
United States is growing quickly, figures from U.S. Customs and Border
Protection indicate.

Economic hard times are thought to be behind the soaring rates of "hot
cash" smuggling, the seizure of which, customs data indicates, rose 50
percent, from about $50 million to $75 million, between 2005 and 2008,
The Boston Herald reported Sunday.

This summer has been a very active time for cash smuggling in New
England, the newspaper said. Thirty-five seizures totaling $856,119 were
made in the region between June 1 and Aug. 12, the data shows.

"We do not know why there is such a huge increase in the number of
seizures this past summer," Ted Woo, spokesman for the Boston Field
Office of CBP, told the Herald, saying it may be because of tighter
inspections at border crossings or more people trying to sneak money
overseas due to the recession.

Also, officials say drug dealers and terrorists are turning to cash to
make payments because authorities are better able to trace their banking
activities, the newspaper said.