By Junex Doronio
LAPU-LAPU CITY — Stressing that the Bureau of Customs remains vigilant against the entry of excessive foreign currency, the BOC Sub-Port of Mactan on Friday (27 September 2024) said it has recently seized JPY (Japanese Yen) 10-million which was undeclared by a male Korean national who arrived at Mactan-Cebu International Airport (MCIA) Terminal 2 onboard Jin Air flight LJ31 from South Korea.
BOC Sub-Port of Mactan Collector Gerry A. Campo, LCB, said during the physical examination of the passenger’s baggage, which was witnessed by BOC’s Enforcement and Security Service (ESS), Customs Intelligence and Investigation Service (CIIS), and X-Ray Inspection Project (XIP) personnel, the Customs examiners discovered undeclared foreign currency amounting to JPY 10,000,000 inside the baggage.
“The Bureau of Customs remains vigilant in its efforts to prevent the illicit movement of local and foreign currency across our borders,” Campo stated.
He underscored that a passenger is only allowed the freely importable amount of JPY1,480,000.00, equivalent to USD 10,000.
Campo pointed out that sums greater than USD 10,000 must be declared via the Foreign Currency Declaration Form (FCDF) and the E-Travel system when arriving or departing from any international airport or seaport in the country.
The BOC Sub-Port of Mactan on Friday (27 September 2024) said it has recommended the issuance of a Warrant of Seizure and Detention (WSD) for the excess amount of JPY 8,520,000.00 due to violations of BSP regulations on cross-border currency transfers and Section 1113 of Republic Act No. 10863, also known as the Customs Modernization and Tariff Act (CMTA).
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