Republic of the Philippines
HOUSE OF REPRESENTATIVE!
Quezon City

EIGHTEENTH CONGRESS
First Regular Session

HOUSE BILLNO.__ 3234

Introduced by REP. LEX ANTHONY CRIS A. COLADA

EXPLANATORY NOTE

According to the international anti-money laundering on anti-terrorism-
financing acts, every one has to declare if you are travelling with more than $
40,000 in cash, no mater where you travel. Money laundering and the
financing of terrorism are financial crimes with economic effects. Effective
anti-money laundering and combating the financing of terrorism regimes are
essential to protect the integrity of markets and of the global financial
framework as they help mitigate the factors that facilitate financial abuse.

Thus, this bill seeks to penalize any person who imports in or exports
out of the Philippines any cash amounting to $10,000 US dollars or its
equivalent amount without any declaration and authorization from the central
bank of the country of origin.

The acts shall be considered as smuggling, hence, it shall fall without
the jurisdiction of the Bureau of Customs who shall closely working with the
Bureau of Immigration in protecting the Philippine borders. However, only
cash is being smuggled and not goods, the AMLC and the BSP shall step in
the disposition of the seized cash in bulk after the turn-over of the BOC.

Stiffer penalties are imposed for any violation of the Act particularly in
the case of foreign nationals, public officers or existence of collusion among
the offenders. To further strengthen the enforcement of this measure, a
reward system is hereby provided. Lastly, the BOC and BID budget will be
augmented upon apprehensions of offenders as they get a portion from fines
imposed and collected. :

In view of the foregoing, the passage of this meagure is ¢2
sought for. “SS

LEX ANTHONY CRIS A. COLADA
Party-list, AAMBIS-OWA

4



Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

NINETEENTH CONGRESS
First Regular Session
a

HOUSE BILL NO,

Introduced by REP, LEX ANTHONY CRIS A. COLADA

AN ACT
PENALIZING THE IMPORTATION OR EXPORTATION OF
CASH IN BULK

Be it enacted by the Senate and the House of
Representatives of the Philippines in Congress assembled:

SECTION. 1. Short Title. This Act shall be known as the
“Anti-smuggling of Cash in Bulk Act.”

SEC. 2. Declaration of Policy. - \t is policy of the State to
pursue trade policy that will dignify and protect all economic
activities. It is with the end view that the government shall ensure
that the Philippines is free from any form of financial acts of
terrorism and laundering of money obtained from all forms of illegal
activities abroad.

SEC. 3. Importation or Exportation of Cash in Bulk. - Any
person may be allowed to import or export cash of any foreign
currency amounting to less than 10,000 US dollars or its
equivalent amount: Provided, That a declaration to such
importation or exportation has been executed and a_ prior
authorization from central bank of the country of origin.

SEC. 4. When and How to Declare. - The importation or
exportation of cash in bulk shall be declared within twenty-four (24)
hours before arrival or departure and shall be presented to the
Bureau of Immigration (Bl) and Bureau of Customs (BOC)

SEC. 5. Accountability of the Government Agencies
Concerned. — The Bl and the BOC shall submit the declaration and
authorization to the Anti-Money Laundering Council (AMLC) and


the Bangko Sentral ng Pilipinas (BSP) upon receipt thereof for
immediate verification on the veracity and authenticity of the
documents submitted.

The AMLC and the BSP shall, within twenty-four (24) hours from
receipt of the documents, provide result of their verification to the
BI and the BOC who shall accordingly act based on the result of
the verification, The BI and the BOC shall be authorized to
coordinate and deputize with the Philippine National Police (PNP)
or Armed Forces of the Philippines (AFP) or any other
enforcement authority in the Philippines, as the case may be,
when the importing or exporting persons is no longer in their
custody to fully enforce the provisions of this Act

SEC. 6. Authorization from Central Bank. - The authorization
from the central bank of the country of origin shall serve as
evidence that the person bringing in or taking out of more than the
required amount is conducting a business in the Philippines and
that there is no other way to transact but through cash.

SEC. 7. Penalties. - Any person found guilty for the violation
of this Act shall suffer the penalty of imprisonment of six months
and one day to one year and a fine amounting to twice the amount
of the smuggled cash in bulk. The BI or BOC shall immediately
seized the cash and shall, in coordination with the PNP, or AFP or
other law enforcement agencies, take custody of the offender, until
the proper indictment of the importing or exporting person or
persons.

When the offender is a public officer or employee, the penalty
shall, in addition to the preceding paragraph, suffer perpetual
disqualification to hold any public office and forfeiture of retirement
benefits.

When the offender is a foreign national, the offender shall be
deported after service of sentence.

When the violation of this Act was committed through a collusion
with any public officer, the offender or offenders and the colluding
public officer shall suffer the penalty of imprisonment of one (1)
year and one (1) day to five (5) years and a thrice the amount of
smuggled cash, separately. The offenders shall likewise suffer, the


additional penalties provided in the preceding paragraphs,
respectively.

SEC. 8. Handling of Seized Cash in Bulk. - The BOC shall
seize the cash in bulk. In the event that the BI was the one who the
seized cash in bulk, it shall immediately turn-over the seized
amount to the BOC. The BOC shall treat the seized cash in bulk as
prohibited goods to be imported or exported and shall turn-over the
same to the BSP in the same disposition manner as provided for
under Section 1146 of Republic Act No. 10863, otherwise known
as the Customs Modernization and Tariff Act.

SEC. 9. Rewards to Persons Instrumental in the
Apprehension of Offenders. - A cash reward equivalent to one
percent (1%) of the total amount of seized cash in bulk or Two
Hundred Fifty Thousand Pesos (P250,000), whichever is lower,
shall be given to non-public officers who are instrumental in the
seizure of the cash in bulk.

SEC. 10. Earmarking of Fines Imposed and Collected. — The
fifty percent (50%) of all imposed and collected fines for the
violation of this Act shall proportionately be divided and remitted to
be added to the budget of BOC and BID.

SEC. 11. Implementing Rules and Regulations. - Within 90
days from the effectivity of this Act, the DOF, upon the
recommendation of the BOC, the DOJ, upon the recommendation
of the BI, the Department of Budget and Management, the AMLC
and the BSP shall promulgate the necessary rules and regulations
for the effective implementation of this Act.

SEC. 12. Separability Clause. — All laws, decrees, executive
orders and proclamations, rules and regulations or parts thereof
that are inconsistent with this Act are hereby repealed or modified
accordingly.

SEC. 13. Repealing Clause. - All other laws, decrees,
executive orders and issuances, resolutions, ordinances or
circulars inconsistent with the provisions of this Act are hereby
repealed or modified accordingly or declared null and void and
inoperative.


SEC. 14. Effectivity. — This Act shall take effect fifteen (15)
days after its publication in the Official Gazette or at least one (1)
national newspaper of general circulation.

Approved,