BSP Issues Warning vs Individuals Printing Images, Designs of Philippine Money
The Bangko Sentral ng Pilipinas (BSP) has issued a warning against individuals printing images and designs of Philippine money.
The BSP has warned people who will be
discovered printing pictures and designs of money, such as those who sold a P1,000 envelope, with jail and penalties. The BSP stated in a statement on Wednesday that individuals who print the picture of money might face five to ten years in jail.
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This is in conformity with “Circular No. 829, series of 2014,” which prohibits anybody from replicating the image of any legal tender Philippine currency banknotes, or any part of one, in black and white, color, or a combination of colors, without the BSP’s permission. ” The warning was issued in response to the arrest of an internet vendor who was selling banknote-themed envelopes.
The arrest was made by the National Bureau of Investigation (NBI) and the BSP Payments and Currency Investigation Group (PCIG). The face and design of a 1000-Piso New Generation Currency bill may be found on the confiscated envelopes from the vendor.
The suspect was discovered in possession of 150 envelopes purchased by the undercover agent, each of which contained P1,000 worth of paper folded incorrectly. The suspect, on the other hand, refuted the allegations, claiming to be only a reseller.
The public may be authorized to duplicate photographs of Philippine banknotes provided the BSP grants permission or approval, according to the statement. Also, if obtained for educational, historical, numismatic, newsworthy, or other relevant objectives that would protect, promote, or improve the Philippine currency’s integrity and dignity.
“The public may request approval from the BSP to print or reproduce images of Philippine banknotes through the PCIG at email address [email protected],” he added.
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