BOC crackdown vs cash smuggling helped FATF ‘gray list’
THE Bureau of Customs’ (BOC) strict border control measures against illicit cash smuggling played a crucial role in the Philippines’ removal from the Financial Action Task Force (FATF) Gray List.
The customs bureau said its intensified crackdown against smuggling, deployment of cash-sniffing dogs, upgraded baggage scanning systems and expanded capacity-building for customs personnel led to a 455-fold increase in currency declarations and 194 cash seizures in 2024 alone.
On February 21, the FATF announced that the Philippines was no longer under increased monitoring, acknowledging the government’s strengthened financial safeguards against money laundering and terrorist financing. The BOC’s aggressive enforcement efforts were instrumental in meeting global compliance standards.
Under Commissioner Bienvenido Y. Rubio, the agency fully integrated customs clearance into the eTravel system, allowing authorities to better track cross-border cash movements. The deployment of cash-sniffing dogs in major ports and the installation of advanced baggage scanning equipment significantly improved the detection of undeclared and suspicious currency.
The BOC also intensified its capacity-building initiatives, training customs personnel on AML/CTF protocols and enhancing intelligence-sharing with the Department of Information and Communications Technology, Philippine Coast Guard, Office of Transportation Security, Department of Justice, and the Anti-Money Laundering Council.
These efforts led to an unprecedented rise in enforcement actions, with the number of cash seizures in 2024 alone exceeding the total recorded in the previous decade. The sharp increase in currency declarations also reflected stronger compliance among travelers and financial entities.
