BSP files raps vs 6 individuals for damaging coins

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) and the Philippine National Police (PNP) have filed criminal complaints against six individuals arrested for the willful destruction of Philippine coins.

In a statement on Monday, February 3, the central bank said that the arrests stemmed from separate entrapment operations conducted by the its Payments and Currency Investigation Group and the PNP Criminal Investigation and Detection Group in Siquijor and Boracay, Aklan.

The charges against the apprehended individuals were filed before the Siquijor and Aklan Provincial Prosecutor’s Offices.  

One of the suspects, identified as "Jess," gained attention after a video of him destroying a P10 coin and turning it into a ring went viral.

Another individual was arrested in Boracay for the same offense.

Citing Presidential Decree No. 247, the BSP said that the law prohibits the willful defacement, mutilation, tearing, burning or destruction of Philippine banknotes and coins.  

If found guilty, the suspects could face up to five years in prison and a fine of up to P20,000.

“The BSP reminds the public to handle all Philippine banknotes and coins with due respect and dignity, and to protect their integrity as part of the country’s rich culture and heritage,” the central bank said.