Pinoy intercepted for money laundering

MANILA, Philippines — Customs officials have intercepted a Filipino departing for Hong Kong carrying undeclared foreign currency amounting to over P4 million.

Of the amount, the suspect held 3.950 million yen, 20,000 euros and 8,500 dinars.

Charges of violating the Customs Modernization and Tariff Act, Manual of Regulations on Foreign Exchange Transactions, the New Central Bank Act and Anti-Money Laundering Act may be filed against the suspect.

Authorities seized the undeclared currency after arresting the suspect on Feb. 21 at the Ninoy Aquino International Airport (NAIA) Terminal 1.

“This apprehension further proves the crucial role of the Bureau of Customs in the exit of the Philippines from the Financial Action Task Force’s gray list,” Customs Commissioner Bienvenido Rubio said.

In 2024, the BOC-NAIA recorded 158 interceptions of undeclared or falsely declared currencies – a nearly 2,000-percent increase from 2023.

Since January, the BOC-NAIA has reported 28 apprehensions involving currencies.