YEREVAN — Oversight of cash funds transported across Armenia’s borders will be strengthened in order to ensure financial transparency and prevent potential violations, the State Revenue Committee (SRC) announced.
According to the SRC, during January–February more than 450 cases of cash imports and exports by individuals were recorded or declared, amounting to the equivalent of approximately $69 million.
Of that total, about $59.5 million in cash was brought into the Republic of Armenia, while roughly $9.5 million was taken out of the country.
Analyses indicate that a significant portion of these cash transfers originated from member states of the Eurasian Economic Union (EAEU).
The SRC reminded the public that cash amounts exceeding $10,000 or its equivalent transported across the border must be declared.
Although the EAEU framework does not impose separate regulations on the import or export of cash funds, the transportation of large amounts of cash carries certain risks, including those related to the shadow economy, money laundering, illegal financial flows, and other potential violations.
The SRC urges citizens to avoid physically transporting large sums of cash and, whenever possible, to use bank transfers, which are considered a safer and more transparent method for conducting financial transactions.
Regardless of the direction of movement, the committee stated it will continue to consistently monitor the circulation of cash funds, contributing to stronger financial discipline and increased transparency.
