Agents intercept Korean national with P17.2M

UNDECLARED CURRENCIES. Customs agents intercept undeclared foreign currencies amounting to 47 million Japanese yen or P17.2 million at the NAIA Terminal 3 in Pasay City.Government agents intercepted a Korean national who was caught carrying Japanese money equivalent to P17.2 million at the Ninoy Aquino International Airport – Terminal 3.

The undeclared currency was discovered in the foreigner’s check-in baggage during a routine X-ray inspection. A subsequent physical examination revealed several bundles of Japanese Yen. The Bureau of Customs did not identify the Korean national, but it stated that charges of violation of the regulations of the Banko Sentral ng Pilipinas on Cross Border Transfer of Currencies and Republic Act No. 10863, also known as the Customs Modernization and Tariff Act, will be filed against the passenger.

The BSP requires faithful declaration and completion of Foreign Currency Declaration Forms for the importation and exportation of foreign currency exceeding $10,000 or its equivalent.

The Customs Bureau reminds travelers against transporting currency exceeding $10,000 or its equivalent in Philippine peso without proper declaration. In 2022, two Japanese nationals were arrested by Customs agents for attempting to import 100,645,000 Yen without proper declaration.

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