DAVAO CITY – An official of the Bangko Sentral ng Pilipinas (BSP) urged the public to follow the Clean Note Policy to preserve the integrity of the Philippine currency.
Dorothy Joy Diaz of BSP Davao said that crumping, writing on, defacing, tearing, and destroying in any manner Peso bill is punishable by law based on Presidential Decree 247.
According to PD 247, any person who does any of the activities, shall upon conviction be punished by a fine of not more than P20,000 and/or by imprisonment of not more than five years.
In a Philippine Information Agency dispatch, Diaz said that a pending bill in the Congress strengthens the Philippine currency imposing higher sanctions to anybody who destroy and remove its security features.
Diaz said removing the security features would consider the money “mutilated without monetary value.”
The security features of the New Generation Currency banknote series include the asymmetric serial number, security fibers, security threads, optically variable device patch, optically variable ink, and see-through mark of pre-Hispanic script “Pilipino”. (davaotoday.com)