By Ferdinand Patinio
MANILA – The Bureau of Customs (BOC) on Friday reported the recent seizure of undeclared Philippine currency worth PHP5.6 million from a Japanese passenger at the Mactan-Cebu International Airport (MCIA).
Port of Cebu District Collector, lawyer Felipe Geoffrey De Vera, said in a news release that under Customs Memorandum Order (CMO) No. 17-2023, travelers carrying more than PHP50,000 in Philippine currency must first secure written authorization from the Bangko Sentral ng Pilipinas (BSP).
In line with this regulation, only PHP50,000 was returned to the passenger, who was not identified, while the excess amount of PHP5.550 million was confiscated due to the absence of BSP clearance.
He noted that all related documents, including declaration forms and attachments, have been forwarded to the BOC–Anti-Money Laundering Council (AMLC) Technical Working Group in Manila for proper handling and further investigation.
The Office of the Commissioner (OCOM) earlier issued Memorandum No. 31-2023 on strict monitoring of currencies and monetary instruments, as well as Memorandum No. 58-2023 on the mandatory use of multi-currency counting and printing machines for verification.
De vera added that the apprehension on Sept. 21 was the result of the tightening of the nation’s defenses against money laundering and illicit financial flows.
On the other hand, Commissioner Ariel Nepomuceno stressed the broader significance of the operation.
“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,” he said. (PNA)
