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Money ‘laundering’ also a crime, says BSP

The Bangko Sentral ng Pilipinas (BSP) warned the public to refrain from washing or soaking banknotes in detergent soaps, bleach, alcohol, and other chemicals that may damage them.
 
In an advisory on Tuesday, the BSP said these are considered “acts of mutilation or destruction of Philippine currency” and an attached penalty in accordance with Presidential Decree (PD) No. 247.

BSP ADVISORYPinaaalalahanan ng BSP ang publiko na iwasang ibabad o wisikan ang salaping papel at barya ng tubig at…

Bangko Sentral ng Pilipinas 发布于 2020年8月17日周一

Under PD 247, it states that any act  of defacing, mutilating, tearing, burning or destructing of central bank notes and coins will be punished by a fine of not more than 20,000 pesos and/or imprisonment of not more than five years.
 
The BSP said instead of washing the banknotes, it advised the public to maintain proper hygiene and practice proper hand washing after money and coins are being held.
 
“Ugaliin ang paghuhugas ng kamay at pag-iwas sa paghawak ng mukha pagkatapos humawak ng pera (Practice proper hand washing and avoid touching the face after handling money),” the BSP added.


Source: Manila Bulletin (https://mb.com.ph/2020/08/20/money-laundering-also-a-crime-says-bsp/?utm_source=rss&utm_medium=rss&utm_campaign=money-laundering-also-a-crime-says-bsp)

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