The Bureau of Customs (BOC) has seized $167,300 roughly estimated at P9.196 million in cash from a Korean passenger who arrived at the Ninoy Aquino International Airport (NAIA).
The BOC said the foreigner, identified as a Korean, was arrested but his identity was withheld pending investigation.
In a statement, the bureau said that a physical examination of the passenger’s baggage at NAIA Terminal 1 yielded $167,300 hidden in a book.
The Korean arrived at the NAIA Terminal 1 from Incheon International Airport via Asiana Airlines Flight number OZ701.
The BOC issued a warrant of seizure and detention (WSD) against the foreigner for alleged violation of Bangko Sentral ng Pilipinas (BSP) regulations on Cross Border Transfer of Currencies and Section 1113 (L) of the Republic Act No. 10863 or the Customs Modernization and Tariff Act (CMTA).
The Korean is now under the custody of the Customs Police – NAIA for further investigation and possible filing of a criminal case.
The BOC reminds the public that any person may freely bring foreign currencies into or out of the Philippines to a maximum amount of $10,000, or its equivalent.
However, if the amount exceeds $ 10,000, the foreign currency must be declared through the Customs Baggage Declaration Form and the Foreign Currency Declaration Form (FCDF) upon arrival at or before departure from a Philippine airport.