Gordon: Over $633M declared cash entered Philippines through airports in 7 months

In a span of only seven months, a total of $633 million or P32 billion cold cash suspiciously entered the Philippines, Senate blue ribbon committee chairman Richard Gordon revealed at a public hearing on Thursday.

The 60 individuals—including Chinese and Filipino nationals—brought in the said dollar bills from Singapore, Hong Kong, and Bangkok within the period of September 2019 to March 2020.

From March 1 to 5 alone, seven individuals arrived and brought in $6.1 million or P310 million cash.

Gordon said a certain Elizabeth Rodriguez was able to transact 58 times, bringing in wads of cash amounting to a total of $42.5 million, from September to February.

The money coming in from the dozens of individuals--who were potentially mules--had been declared, according to Gordon.

On Tuesday, Gordon presented a list of 47 individuals, including Filipinos and Chinese, who flew in and declared a total of $447 million or P22.69 billion in cold cash as they entered the country from September 2019 to February 2020.

He warned that this could potentially be connected to the money laundering activities involved with the operations of the Philippine Offshore Gaming Operators.

Section 4 of the Republic Act 9160 or the Anti-Money Laundering Act of 2001 defines money laundering as "a crime whereby the proceeds of an unlawful activity are transacted, thereby making them appear to have originated from legitimate sources."

On Monday, the Department of Finance disclosed the Bureau of Customs reported that suspected syndicates brought in an estimated $370 million into the Philippines last year with the help of Armed Forces of the Philippines (AFP), Philippine National Police (PNP) and airport police escorts.

The issue surfaced amid discussions on the alleged "pastillas" bribery scheme in the Bureau of Immigration, which allows the seamless entry of Chinese nationals to the country. — RSJ, GMA News