DURRES, Dec. 4 – An Italian man is under investigation for trying to leave Albania with 50,000 euros in cash without properly declaring it to customs officials.
Police said the 61-year-old, whose name as not been made public, was detained for several hours by Durres police after he tried to board a ferry to Italy with the large amount of cash in his bag.
The Italian man told police it was clean money brought to Albania as part of an investment opportunity that had not worked out, and he was taking it back to the country of origin, according to a police statement.
The man has been freed but according to Albanian law unless one has proof as to the origin of the cash, it can seized by authorities, who typically are worried the cash comes from illegal activities such as drugs trafficking.
Travelers with large amounts of cash have face renewed scrutiny in Albania as the country tries to fight organized crime and illicit activities which usually rely on cash to conduct business.
This is the second case of this type that has made it to the local media’s attention.
In September, an Albanian family on vacation at the Llogara National Park found a bag with 115,000 euros in cash and turned it to police.
Police was able to connect the cash to two Ukrainian visitors who were charged with failing to declare the massive amount of cash to the customs when they came into the country.
The Ukrainian couple were able to explain that the money was there because they were buying an apartment in Saranda, and a local real estate agency verified their dealings.
However, authorities urge both foreign and local people to do business involving large amounts of money only through the banking system.
