THE Bureau of Customs (BOC) Subport of Mactan confiscated undeclared foreign currency brought by a Korean national who arrived at Mactan-Cebu International Airport (MCIA) Terminal 2 aboard Jin Air Flight LJ31 from South Korea recently.
During the physical examination of the passenger’s baggage, conducted in the presence of the passenger and witnessed by BOC’s Enforcement and Security Service (ESS), Customs Intelligence and Investigation Service (CIIS) and X-Ray Inspection Project (XIP) personnel, the assigned Customs examiners found the same to contain undeclared foreign currency in the amount of JPY10,000,000.
In light of the said discovery, the freely importable amount of JPY1,480,000.00 or the equivalent amount of USD10,000 was released to the passenger, however, the Subport of Mactan recommended the issuance of a Warrant of Seizure and Detention (WSD) against JPY8,520,000.00 for violations of BSP regulations on cross-border currency transfers and Section 1113 of Republic Act No. 10863, also known as the Customs Modernization and Tariff Act (CMTA).
Collector Gerardo A. Campo, LCB, emphasized the importance of adhering to customs regulations, stating, “The Bureau of Customs remains vigilant in its efforts to prevent the illicit movement of local and foreign currency across our borders. We urge all travelers to comply with the declaration requirements to avoid any inconvenience or legal consequences. Individuals may freely bring foreign currencies into or out of the Philippines up to a maximum amount of USD 10,000, or its equivalent. However, amounts exceeding USD 10,000 must be declared through the E-Travel system and the Foreign Currency Declaration Form (FCDF) upon arrival at, or prior to departure from, any Philippine airport.”
Commissioner Bienvenido Y. Rubio, in response to this incident, remarked, “We will continue to work diligently to detect and address any violations, reinforcing our dedication and commitment in safeguarding the country’s economic interests, the integrity of the international financial system, and curb possible anti-money laundering activities. The cooperation of travelers in adhering to these regulations is crucial in supporting our mission.”
Under the leadership of District Collector Romeo Allan R. Rosales and guidance Commissioner Rubio, the Subport of Mactan under Collector Campo remains steadfast in its commitment of strengthening border protection as aligned with the directive of President Ferdinand R. Marcos, Jr.
