MANILA – The Bureau of Customs (BOC) has intercepted three packages containing dollar bills amounting to USD38,700 concealed inside magazines, at the Port of the Ninoy Aquino International Airport (NAIA).
In a statement on Tuesday, the BOC said the items were misdeclared as “documents” that arrived at the FedEx warehouse on November 2.
A certain Jacqualine Paas from the US was the sender of the items that were consigned to individuals from Poblacion, Muntinlupa City.
According to the BOC, the packages had undergone physical examination last week and were found to contain US dollar bills hidden in magazines.
The seized foreign currency shall be subjected to seizure and forfeiture proceedings in violation of Sections 1400 and 1113 of Republic Act (RA) 10863 (Customs and Tariff Administration) in relation to RA 7653 (New Central Bank Act) and BSP Foreign Exchange Transaction Manual.
District Collector Carmelita Talusan again reminded the public or those engaged in importing foreign currencies to declare the amount intended to be imported using the prescribed foreign currency declaration form, as stated under the BSP Manual of Foreign Exchange Transaction.
Last week, the port also intercepted USD13,500 in undeclared foreign currency.
It reported that for this year, the BOC-NAIA has issued warrants of seizure and detention against various currencies with an aggregate equivalent value of PHP29,875,000.
A 2015 report of Financial Action Task Force on Money Laundering Through the Physical Transportation of Cash identified concealment of cash in cargo and mail as one of the techniques for money laundering.