President Ferdinand R. Marcos Jr. on May 5, 2025, formally recognized the Bureau of Customs (BOC) for its vital role in the Philippines’ successful removal from the Financial Action Task Force (FATF) Grey List, marking the end of a three-year effort that involved 10 reporting cycles and rigorous on-site evaluations.
Acknowledging the serious economic and reputational risks tied to the FATF grey listing, President Marcos had earlier issued Memorandum Circular No. 37 in October 2023. The directive called on all concerned government agencies to expedite compliance with the action items outlined by the FATF’s International Cooperation Review Group. The BOC, mandated to monitor cross-border financial activities, was among the key agencies tapped for its enforcement capabilities.
At the start of 2024, President Marcos convened a high-level meeting on the very first working day of the year to underscore the urgency of the task. With close coordination from the Department of Finance under Secretary Ralph G. Recto, the BOC strengthened its border control strategies in line with national fiscal and financial priorities.
The FATF took particular note of the bureau’s reforms, which led to a dramatic increase in cross-border currency declarations—455 times higher than previous levels—and 194 seizures in 2024 alone, surpassing the total number of interdictions from the previous decade combined. These efforts contributed significantly to the positive outcome of the FATF’s On-site Visit in January 2025.
During a recognition ceremony, President Marcos expressed his gratitude to the institutions and individuals who contributed to this milestone. “The individuals we recognized today made this victory possible. They worked towards building a framework resilient enough to protect our financial system from criminal and terrorist activities,” the President said.
Commissioner Bienvenido Y. Rubio and Deputy Commissioner Atty. Teddy S. Raval of the BOC Enforcement Group were personally awarded Certificates of Commendation by the President. Rubio affirmed the bureau’s commitment to progress, saying, “We view this success as both a validation and a responsibility. The Bureau of Customs will continue to evolve and innovate to safeguard the country against illicit financial flows.”
Ten other BOC personnel were also honored by National Anti-Money Laundering/Counter-Terrorism Financing Coordinating Committee (NACC) Chairman and Executive Secretary Lucas P. Bersamin. Among the awardees were:
– NAIA District Collector Maria Yasmin Obillos-Mapa and Deputy Collector Wilnora L. Cawile
– Port of Clark Deputy Collector for Passenger Service Atty. Danilo G. Ballena, Jr.
– Port of Manila Deputy Collector for Operations Atty. Gerard Turiano
– Legal Service’s Atty. Christopher Dy Buco and Atty. Rod H. Pino
– Enforcement Group’s SP/Capt. Vincent Mark S. Malasmas, SP/Lt. Danilo A. Jamito, and Customs Operations Officer Genilyn D. Minardo
– Systems Development Division Chief Ms. Liberty Plana
The recognition affirms the BOC’s growing role in protecting the country’s financial system from illicit flows and reflects its broader mission of transparency, innovation, and international cooperation.
Photo Credit: Bangko Sentral ng Pilipinas
