GMA News
Gordon: Over $633M declared cash entered Philippines through airports in 7 months
Senator Richard Gordon revealed that 60 individuals, including Filipino and Chinese nationals, brought a total of $633 million or P32 billion in cash into the Philippines from September 2019 to March 2020.
The cash was declared upon entry, but Gordon expressed concern about potential money laundering activities, possibly linked to Philippine Offshore Gaming Operators.
A certain Elizabeth Rodriguez declared bringing in $42.5 million over 58 transactions from September to February.
The declared purposes for the cash included foreign exchange transactions, travel, casino use, investment, and business use.
The cash was reportedly brought in from Hong Kong, Singapore, and Bangkok.
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Davao City First District Rep. Paolo Duterte filed House Bill 6421, the "Anti-Bulk Cash Smuggling Act of 2020," to penalize the illegal transport of large sums of money into and out of the country.
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President Rodrigo Duterte ordered an investigation into Chinese nationals suspected of bringing undeclared cash into the Philippines, potentially for money laundering.
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The Senate Blue Ribbon Committee has summoned seven individuals identified as the Rodriguez family to explain their alleged involvement in the suspicious entry of millions of dollars into the Philippines.
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Malacañang has requested Senator Richard Gordon to share information regarding Chinese nationals allegedly bringing substantial amounts of cash into the Philippines, potentially for illicit activities.
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The Bureau of Customs (BOC) is intensifying its monitoring of significant amounts of foreign currency entering the Philippines due to money laundering concerns.
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