BOC, AMLC and BSP conduct joint inspection on currencies at NAIA Terminal 1

The Bureau of Customs (BOC), Anti Money Laundering Council (AMLC), and Bangko Sentral ng Pilipinas (BSP) conducted a joint inspection on currency declaration at Ninoy Aquino International Airport Terminal 1 on June 25, 2024. This is in line with Executive Order No. 33, series of 2023 and Office of the President Memorandum Circular No. 37, series of 2023 adopting the 2023-2027 National Anti-Money Laundering, Counter-Terrorism Financing, Counter Proliferation Financing Strategy (NACS).

The joint inspection was led by Deputy Commissioner Teddy S. Raval of the BOC, Atty. Allan Julius Azcueta, Acting Deputy Director, Commitments and Policy Group, AMLC, and Atty. Alexis M. Cervantes, Manager, International Operations Department, BSP.

During the joint inspection, two (2) Korean nationals were apprehended and found to be carrying undeclared KRW 80,000,000.00 or PhP3,387,473.00. This brings the total currency seizures of the BOC to 83 since Jan 1, 2024.

The BOC, AMLC, and BSP shall continue to conduct joint inspections to ensure that currency detection measures and policies on cross-border transport of currencies and monetary instruments are strictly implemented in all international airports and seaports.

Customs Commissioner Bienvenido Y. Rubio emphasized the importance of these coordinated efforts, stating, “We are committed to maintaining the integrity of our financial system and ensuring that our borders are secure from illegal monetary activities.

APC Reportorial Team

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