Bureau of Customs (BOC) | FILE PHOTO
MANILA, Philippines — The Bureau of Customs’ (BOC) strict border management measures towards illicit money smuggling performed an important position within the Philippines’ elimination from the Monetary Motion Job Drive (FATF) Grey Checklist.
The customs bureau stated its intensified crackdown towards smuggling, deployment of cash-sniffing canine, upgraded baggage scanning programs and expanded capacity-building for customs personnel led to a 455-fold improve in foreign money declarations and 194 money seizures in 2024 alone.
On February 21, 2025, the FATF introduced that the Philippines was now not underneath elevated monitoring, acknowledging authorities’s strengthened monetary safeguards towards cash laundering and terrorist financing. The BOC’s aggressive enforcement efforts have been instrumental in assembly world compliance requirements.
READ: BOC seized PhP3.245-M unmarked gasoline and tank truck in Bicol crackdown operations
Beneath Commissioner Bienvenido Rubio, the company absolutely built-in customs clearance into the eTravel system, permitting authorities to higher observe cross-border money actions.
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The deployment of cash-sniffing canine in main ports and the set up of superior baggage scanning gear considerably improved the detection of undeclared and suspicious foreign money.
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The BOC additionally intensified its capacity-building initiatives, coaching customs personnel on AML/CTF protocols and enhancing intelligence-sharing with the Division of Info and Communications Expertise, Philippine Coast Guard, Workplace of Transportation Safety, Division of Justice, and the Anti-Cash Laundering Council.
These efforts led to an unprecedented rise in enforcement actions, with the variety of money seizures in 2024 alone exceeding the overall recorded within the earlier decade. The sharp improve in foreign money declarations additionally mirrored stronger compliance amongst vacationers and monetary entities.
With these reforms in place, the BOC has bolstered the nation’s monetary safety, guaranteeing that the Philippines stays compliant with worldwide rules and safeguarded towards illicit monetary actions.
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