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Filipina passenger nabbed after attempting to bring P400K worth of cash outside PH sans BSP authorization

Published Mar 13, 2020 12:00 am
By Betheena Unite A woman was stopped from leaving the Ninoy Aquino International Airport on Wednesday after agents discovered that she was attempting to bring out P400,000 cash without a written authorization from the Bangko Sentral ng Pilipinas, the Bureau of Customs said Friday. The passenger, who was only identified by the Customs as “Filipina passenger”, was intercepted by agents from the Port of NAIA for carrying the money without the required written authorization from BSP. The Customs bureau said it is a violation of the Manual on Cross Border Local and Foreign Exchange Transaction under BSP Circular No. 922, Series of 2016. They said that for cross border transaction of local currency, “if the amount sought to be exported or imported exceeds Php50,000, a written priority authority from BSP is required.” The Filipina passenger is currently detained and facing criminal charges for violation of Section 36 of the New Central Bank Act (NCBA) and Section 1401 of Customs Modernization and Tariff Act (CMTA) with an imposable penalty fine of not less than P50,000 but not more than P200,000 or imprisonment of not less than two years nor more than ten years, or both, at the discretion of the court. On the other hand, for violation of Section 1401 of the CMTA, the imposable penalty is imprisonment of not less than six months and one day but not more than one year, or a fine of not less than P75.000 but not more than P150,000 or both. The bureau refused to disclose the identity of the passenger as well as her supposed destination pending investigation.
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