To German customs officers, the smell of money is best captured by their four-legged friends.
The airport in Frankfurt, the country’s financial capital, has a trio of German shepherd dogs to help trace large sums of cash brought into the country. In 2012, seven offenders were caught on average each day, and 28 apprehensions were made specifically using dogs. By June of this year, the canine patrol had nabbed 20 offenders, the customs office said.
Individuals crossing European Union borders must declare cash exceeding 10,000 euros ($13,068). With countries including Switzerland and Luxembourg pressured to loosen bank-secrecy laws and the German government buying up lists of tax dodgers, more money squirreled away abroad is flowing back home. Notices served on cash offenders have jumped 11-fold since 2000 to 2,489 last year, data provided by the customs office show.
Source: Bloomberg. Read full article. (link)