BSP files criminal complaint against banknote burner (Sabong News)
Author
Lee C. Chipongian
Date
APRIL 23 2022
The Bangko Sentral ng Pilipinas (BSP) and the Philippine National Police (PNP) Anti-Cybercrime Group has slapped a criminal complaint against a 24-year old social media user who burned a P20 banknote online.
The BSP said on Saturday, April 23, that it has filed a complaint versus “Jam Jaren” which is an alias, before the Office of the City Prosecutor in Quezon City for violating Presidential Decree No. 247, Article 154 of the Revised Penal Code, as amended, and Republic Act No. 10175 or the Cybercrime Prevention Act of 2012.
“We will pursue this case until conviction,” said BSP Deputy Governor Mamerto E. Tangonan. “We assure the public that BSP shall continue to protect the integrity of our currency,” he added. Tangonan, head of the BSP payments and currency management sector, is currently in Washington DC for the International Monetary Fund-World Bank Group meetings.
The BSP described alias Jam Jaren’s burning a P20 banknote in a video posted on popular social media sites and then using it to ignite the contents of an alcohol bottle, as both unlawful.
Under PD No. 247, the BSP stressed that “the willful defacement, mutilation, tearing, burning, or destruction of Philippine banknotes and coins is unlawful and punishable by imprisonment of up to five years and a fine not exceeding P20,000.”
Under Article 154 of the Revised Penal Code, meantime, the BSP said persons who, by any means of publication, encourage disobedience to the law are penalized by imprisonment and fine.
Lastly, BSP said “RA No. 10175 (Cybercrime Prevention Act) penalizes all crimes covered by the Revised Penal Code and special laws, if committed through or with the use of information and communication technologies, with a penalty at least one degree higher than that provided by the Revised Penal Code and special laws, as the case may be.”
The central bank has been consistent in issuing warnings to the public to stop malicious actions or misdeeds that destroys the country’s currency, and that they could go to prison for these criminal acts.
The BSP is vested with police authority to investigate, make arrests, and conduct searches and seizures in accordance with law, for the purpose of maintaining the integrity of the currency.
The following are also prohibited acts under the law: writing or putting marks on banknotes; willful and excessive folding or crumpling that results in a breakdown of the structure and limpness of the banknote; willfully causing multiple random folds across the entire banknote that toughly affect its visual appearance; and willfully exposing banknotes or coins to chemicals or other materials resulting in the acceleration of the defacement, destruction, or natural wear and tear of the note or coin.
The BSP is also strongly discouraging the public from other improper ways of handling banknotes such as using staple, or use adhesives on banknotes and coins as these “will compromise their structural integrity.”
