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Undeclared foreign currencies seized

TWO packages of undeclared foreign currencies with a total amount of $13,500 were intercepted by the Bureau of Customs—Port of NAIA at the Fedex warehouse last October 30, 2020.

NAIA District Collector Mimel Talusan said the packages were misdeclared as “correspondence/no value”, and arrived on October 23 and 29, 2020, respectively. Both were sent by the same sender from Jefferson City, USA, and consigned to the same person from Poblacion, Muntinlupa City.

Talusan said that upon 100 percent physical examination, the first package was found to contain 75 pieces of $100 bills. The other package contained 150 pieces of $20 bills, 20 pieces of $50 bills, and 20 pieces of $100 bills.

Just last September, Talusan said the BOC-NAIA similarly intercepted US$8,000 concealed in the pages of a magazine. In sum, for the year 2020, the port has intercepted a total of USD31,200.00 or P1,560,000 concealed and misdeclared in different packages.

Talusan 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 in violation of 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,” she said.

Publication Source :    People's Tonight