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July 21, 2024

BSP to pursue case against Tiktoker who burned P20 bill

The Bangko Sentral ng Pilipinas (BSP) is serious in putting a netizen who burned a P20 banknote in a video uploaded on social media app Tiktok behind bars.

BSP Deputy Governor Mamerto Tangonan said the central bank and the Philippine National Police Anti-Cybercrime Group has filed a complaint against the identified perpetrator before the Office of the City Prosecutor in Quezon City.

“We will pursue this case until conviction. If convicted, the perpetrator faces imprisonment of up to 6 years. We assure the public that BSP shall continue to protect the integrity of our currency as a safe medium of exchange for economic growth,” Tangonan said in a statement.

According to the central bank, the act on the video and the use of the video in committing said act are both unlawful as Presidential Decree No. 247 prohibits and penalizes the mutilation, tearing, burning, destroying, etc. of currency notes and coins issued by the central bank.

Likewise, Article 154 of the Revised Penal Code punishes persons who, by any means of publication, encourage disobedience to the law.

Furthermore, the BSP said Republic Act No. 10175 or the Cybercrime Prevention Act penalizes all crimes covered by the Revised Penal Code and special laws if committed through or with the use of ICT.

“Therefore, we would like to remind everyone not to mutilate, tear, burn, or destroy our currency and to report to the BSP any incident of this nature,” Tangonan said.

Netizens can report violations through e-mail to BSP Payments and Currency Investigation Group at pcig@bsp.gov.ph.