Going On Vacation? With How Much Cash? Oops!

[i am bob]

An informative article on someone trying to take too much money out of the Philippines - the wrong way!

http://globalnation.inquirer.net/39401/japan-bound-filipino-held-at-naia-for-non-declaration-of-yen-pesos

MANILA, Philippines—Airport authorities on Friday intercepted a Filipino woman who allegedly tried to bring out of the country some 3.6 million yen and around P300,000 she had not declared to the Bureau of Customs, in violation of central bank rules.

Customs deputy collector for passengers services Thess Roque said Ronavie Kamata, a resident of Mauban, Quezon, was stopped by Customs examiners at the Ninoy Aquino International Airport Terminal 1 for allegedly failing to declare that she had such amount in her possession.

Kamata, 39, was about to board a Japan Airlines flight bound for Narita around 2:25 p.m. when intercepted by authorities at the initial X-ray departure area.

Roque said the Japanese yen, which has an equivalent of arond P2 million, was discovered inside a brown clutch bag placed in Kamata’s carry-on trolley bag, which also yielded assorted denominations of Philippine pesos, with a total of P296,000.

When asked by Customs examiner if she had declared the amount when she first entered the country, Kamata reportedly said the money was intended for the payment of her house in Quezon province.

However, she reportedly said she had to bring it out of the country and return it to her husband in Japan after the deal did not push through.

Roque cited Bangko Sentral ng Pilipinas circular 308 which says that “any person bringing in or taking out of the Philippines foreign currency, or other foreign exchange-denominated bearer negotiable monetary instrument in bearer form such travelers checks, other checks, drafts, notes money order, bonds, deposits, certificates, securities, commercial papers, trust certification, deposits substitute instrument, trading orders, transaction ticket and confirmation sale/investment, in excess of US$10,000 or its equivalent must accomplish a Currency Declaration form which may be obtained from and submitted to a customs officer assigned at the customs desk.”

“Any person is entitled to 10,000 each in foreign currency and peso,” the Customs officer said.

She added that Customs will return to Kamata the equivalent of US$10,000 and P10,000 as required by the BSP but the balance of the amount will be confiscated in favor of the government.

[Beachboy]

Money laundering .. no sane person would walk around Manila with kind of cash. Or maybe the words "wire transfer" is not in their vocabulary. Since the story made the newspaper I assume the custom official didn't pocket the money. :hystery:

[tiger31]

oh dear she got some explaining to do to the husband what a twat lol

[i am bob]

You know... It's funny but I have never heard of anyone doing money transfers OUT of the Philippines...!

:mocking:

[Dave Hounddriver]

It's funny but I have never heard of anyone doing money transfers OUT of the Philippines

Try Googling Corrupt Philippine Poiticians :hystery:

[Mike S]

That's because they seem to forget what they brought out of the country ..... what houses they own abroad ..... what cars they bought and if they paid their taxes on that stuff ..... in fact they seem to forget a whole lot of crap they do or buy abroad ....... I'm thinking of opening a bank account and ask them to fill it for me cause in a few months they will forget they have it ...... :hystery: :hystery: ....... hell they can't even remember how many trips out of the country they took ..... :mocking: ...... and these are the rich ... famous and powerful ????????????????????