BOC: No mandatory cash bond for new importers

MANILA – The Bureau of Customs (BOC) on Tuesday warned the transacting public against a fraudulent memorandum stating the implementation of a mandatory cash bond for new importers.

In a statement, the bureau clarified that no such memorandum has been issued by the Office of the Commissioner, which was purportedly dated November 21, 2024.

“The information and regulations contained in the document are entirely baseless and do not reflect the policies or practices of the agency,” it said.

The bureau added the uncovered falsification of document, which was deliberately made to appear as one issued by the Office of the Commissioner, “is a dire attempt to mislead the public and undermine the integrity of the BOC’s operations, not to mention concomitant swindling schemes against gullible and unsuspecting transacting stakeholders.”

At the same time, the BOC vowed to thoroughly investigate the matter to identify the individuals or groups behind this malicious act.

“Legal action will certainly be pursued to the fullest extent against those found responsible for this fraudulent activity,” it said.

The BOC urged the public, stakeholders, and the importing community to exercise vigilance and verify the authenticity of any communication or policy through official channels.

It said all relevant BOC policies are published on its official website customs.gov.ph.

For inquiries or to report suspicious documents, stakeholders are encouraged to contact the BOC through its hotline at (02) 8705-6000 or email at [email protected](PNA)

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