CEBU, Philippines — Bureau of Customs-Cebu District Collector Romeo Allan R. Rosales has issued a Warrant of Seizure and Detention (WSD) for JPY8,520,000 (approximately P3.3 million) confiscated from a Korean national upon arrival at Mactan Cebu International Airport.
BOC-Subport of Mactan Collector Gerardo Campo stated that although the confiscation occurred in August 2024, the WSD was issued this month.
“Ang money ra man ang gi confiscate larga raman ang passenger ani,” Campo told The Freeman.
The warrant was issued for violations of Bangko Sentral ng Pilipinas (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).
To recall, the BOC Subport of Mactan confiscated undeclared foreign currency amounting to JPY10,000,000 (approximately P3.9 million) from a Korean national. During a physical examination of the passenger’s baggage, Customs examiners discovered the undeclared currency. However, the freely importable amount of JPY1,480,000 (approximately P577,000) was released to the passenger.
Campo emphasized the importance of adhering to customs regulations. He noted that amounts exceeding $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.
“The Bureau of Customs remains vigilant in its efforts to prevent the illicit movement of local and foreign currency across our borders,” Campo said in a separate statement.
“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 $10,000, or its equivalent,” Campo added
In response to this incident, BOC Commissioner Bienvenido Y. Rubio stated that the bureau will continue to work diligently to detect and address any violations. This effort reinforces their dedication to safeguarding the country’s economic interests, maintaining the integrity of the international financial system, and curbing potential anti-money laundering activities.
“The cooperation of travelers in adhering to these regulations is crucial in supporting our mission,” Rubio added.
The bureau said that it will remained steadfast in its commitment of strengthening border protection as aligned with the directive of President Ferdinand R. Marcos, Jr. — (FREEMAN)