CUSTOMS examiners at the Ninoy Aquino International Airport (NAIA) terminal 1 seized bundles of undeclared foreign currencies from a departing Filipino passenger bound for Hong Kong last February 21.
BoC-NAIA district collector Yasmin Mapa said the undeclared foreign currencies consisting of 20,000 Euros, 8,500 Kuwaiti Dinar and 3,950,000 Japanese Yen were seized after the passenger failed to produce a clearance or permit from the Bangko Sentral ng Pilipinas (BSP).
Mapa added that inquest proceedings have been initiated against the passenger for violation of Sections 117, 1400, 1401, and 1403 of Republic Act No. 10863 (Customs Modernization and Tariff Act), the Manual of Regulations on Foreign Exchange Transactions (as amended by BSP Circular Nos. 794, 874, 922, and 1146), Republic Act No. 7653 (The New Central Bank Act), and Section 4 of Republic Act No. 9160 (Anti-Money Laundering Act).
This campaign aligns with President Marcos Jr.’s directive to implement the National Anti-Money Laundering, Counter-Terrorism Financing, and Counter-Proliferation Financing Strategy (NACS) 2023–2027, underscoring the government’s dedication to preserving financial integrity and national security.
In 2024, BOC-NAIA made 158 interceptions of undeclared or falsely declared currencies or almost a 2,000 percent increase from apprehensions in 2023. From January 2025 to date, the BOC-NAIA has recorded 28 apprehensions involving currencies. BOC-NAIA, under Mapa’s leadership, continues its mandate to uphold customs laws and international financial regulations while securing the nation’s borders against financial crimes.
