US $38,700 in cash seized by NAIA Customs at warehouse

Published November 16, 2020, 10:18 PM

by Ariel Fernandez

The Bureau of Customs—Port of NAIA has intercepted more  packages in the Fedex warehouse containing US dollars concealed  inside magazines with a total amount of $38,700.

(photo from NAIA)

The packages were misdeclared as “documents”, which arrived on November 2, 2020. Three different packages sent by a certain “Jacqualine Paas” from the United States were consigned to different consignees, all from Poblacion, Muntinlupa City.

Upon physical examination by the NAIA customs examiner, the packages were found to contain US dollar bills concealed in glossy magazines. 

Just last week, authorities at the BOC NAIA similarly intercepted USD13,500 in undeclared foreign currencies. 

In sum, for year 2020, the port has issued Warrants of Seizure and Detention against various undeclared currencies with aggregate equivalent value of Php 29,875,000. 

It can be recalled that a 2015 report of Financial Action Task Force (FAFT) on Money Laundering Through the Physical Transportation of Cash identified concealment of cash in cargo and mail as one of the techniques in money laundering.

District Collector Carmelita M. Talusan again reminded the public that under the BSP Manual of Foreign Exchange Transaction, in importing foreign currencies the importer simply needs to declare the amount intended to be imported using the prescribed Foreign Currency Declaration Form. 

The seized foreign currencies shall be subjected to seizure and forfeiture proceedings for violating Sections 1400 (Misdeclaration) and 1113 of R.A. No. 10863 (CMTA) in relation to the R.A. 7653 (New Central Bank Act) and BSP Foreign Exchange Transaction Manual.

The Bureau of Customs under Commissioner Rey Leonardo B. Guerrero will continue to be diligent in carrying out the Bureau’s mandate of strictly implementing regulatory laws and rules in the country’s border, said the BOC NAIA.