-
Bureau of Customs officers intercepted P5.6 million in undeclared Philippine currency from a Japanese passenger at the Mactan-Cebu International Airport on September 21
-
Only P50,000 was returned to the passenger, in line with Philippine central bank regulations, while the balance was seized
-
Documents have been forwarded to the BOC- Anti-Money Laundering Council Technical Working Group for investigation
Bureau of Customs (BOC) officers intercepted P5.6 million in undeclared Philippine currency from a Japanese passenger at the Mactan-Cebu International Airport on September 21, as the agency intensifies enforcement against illicit financial flows.
The passenger was found in violation of Customs Memorandum Order No. 17-2023, which mandates prior written authorization from the Bangko Sentral ng Pilipinas (BSP) for travelers carrying more than P50,000 in local currency.
Following protocol, only P50,000 was returned to the passenger while the remaining P5.550 million was seized and documented under a Held Baggage Receipt, the BOC said in a press release.
The funds are now subject to a warrant of seizure and detention order. Supporting documents have been submitted to the BOC-Anti-Money Laundering Council Technical Working Group in Manila for further investigation.
The operation adheres to Office of the Commissioner (OCOM) Memorandum Nos. 31-2023 and 58-2023, which enforce strict monitoring of currency movements and mandate the use of multi-currency counting and printing machines for verification, the BOC said in a press release.
Port of Cebu district collector Felipe Geoffrey De Vera underscored the need for vigilance in airport operations, noting that the interception demonstrated “the dedication of our frontliners in ensuring compliance with customs regulations and in protecting the integrity of our ports of entry.”
READ: BOC seizes P24.2M in undeclared currency at NAIA
Customs commissioner Ariel Nepomuceno, in a statement, said, “This operation goes beyond compliance, it is about protecting our nation from the risks posed by unregulated currency movements. The Bureau remains steadfast in its role of safeguarding the country’s economic security.”
The seizure underscores the government’s commitment to financial transparency and economic security, following the country’s removal from the Financial Action Task Force grey list earlier this year, BOC said.
