DFA warns Pinoy travelers to EC: Declare Euro cash or face fine

The Department of Foreign Affairs on Thursday warned Filipino travellers arriving in the European Community or departing for non-member states and carrying cash amounting to EUR 10,000 or more are required to declare the cash to the competent national authorities.  

The DFA pointed out that travellers are required to comply with the obligation to declare cash as stipulated in Article 3 of EC Regulation No. 1889/2005 of the European Parliament and the Council of October 28, 2005. 

Non-compliance or misdeclaration constitutes an offense, punishable by fine of up to one million euros.   

The obligatory declaration aims to more effectively prevent cash movements from illegal sources, prosecute cases of influx of proceeds from criminal acts into the European Union, identify individuals in contact with terrorist organizations, and inhibit cross-border funding of terrorism. 

This obligation, however, does not restrict the free movement of capital.  

Cash funds are defined as currency or cheques (traveller’s cheques), money orders, promissory notes, shares, debentures, and due interest warrants (so called coupons).