The Central Bank of the Philippines and the Philippine National Police have filed criminal cases against six individuals arrested in separate operations for the wilful destruction of Philippine coins. Cases were lodged by the BSP Payments and Currency Investigation Group and the PNP Criminal Investigation and Detection Group with the Siquijor Provincial Prosecutor’s Office and the Aklan Provincial Prosecutor’s Office. Suspects include an individual known as “Jess”, who went viral for making rings from PHP 10 coins in Siquijor, and another person apprehended for similar activity in Boracay. Under Presidential Decree No. 247, deliberate defacing, tearing, burning, or destroying Philippine banknotes or coins is illegal and punishable by up to five years’ imprisonment and/or a fine of up to PHP 20,000; the BSP also reminded the public to use currency properly and report intentional currency destruction to authorities.
Central Bank of the Philippines 2025-02-03
Central Bank of the Philippines files criminal charges against six individuals over deliberate destruction of Philippine coins in Siquijor and Boracay
The Central Bank of the Philippines and the Philippine National Police have filed criminal cases against six individuals for wilfully destroying Philippine coins. The cases, involving activities such as making rings from PHP 10 coins, were lodged with the Siquijor and Aklan Provincial Prosecutor’s Offices. Under Presidential Decree No. 247, such acts are illegal and punishable by up to five years’ imprisonment and/or a fine of up to PHP 20,000.