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BSP exec: Traveling persons must declare cash amounting to over $10K
MANILA, Philippines - A Bangko Sentral ng Pilipinas (BSP) official on Monday said "administrative sanctions" await those who go out of the country without declaring if they carry more than $10,000. BSP corporate affairs director Fe dela Cruz made the statement over radio dzBB amid the scandal involving former Philippine National Police comptroller, Director Eliseo dela Paz who was held in Moscow, Russia last week for failing to declare 105,000 euros (P6.9 million) in "contingency funds" he brought for other police officials who attended the 77th Interpol Assembly. "Pag hindi dineclare may administrative sanctions na pinaguusapan," said dela Cruz. "Merong mga konting kaparusahan na kaakibat non." Dela Cruz said that while the BSP has liberalized its rules regarding the bringing of foreign currency to other countries, the amount must be declared to Philippine airport authorities. "Niliberalize na ng Central Bank yung pagdadala ng foreign currency," said Dela Cruz. "Pero ang kailangan pagdating natin sa airport ideklara mo na meron kang dala...kumbaga kung more than $10,000 dollars, ide-declare mo." Dela Cruz said those who carry more than $10,000 must fill out forms at the airport: one for airport authorities, one for the Anti Money Laundering Council, and one for the traveler. Dela Paz is expected to arrive in the country Tuesday, where a Senate grilling awaits him and other PNP officials over the cash scandal. - Johanna Camille Sisante, GMANews.TV
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