BSP okay with “Money Laundering”
Only because of the aftermath of Tropical Storm Ondoy, the Bangko Sentral ng Pilipinas permits banks to do “Money Laundering” operations.
Of course, money laundering here does not refer to those wealth which came from questionable sources.
When BSP gave a go signal to money laundering, it refers to changing those soiled bills where were soaked inside banks’ vault during the onslaught of Tropical Storm Ondoy.
Apparently, banks were not spared from flash floods because water can enter the bank’s vault, soaking the bills which were kept inside.
BSP Deputy Governor Nestor Espenilla Jr., however said that they (banks) should first “dry out” the soaked bills before turning them over to them for replacement.
I guess, the BSP would be releasing early crisp new bills which it usually gives to the banks during Christmas season.
October 9, 2009
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Roy В· 
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Tags: Bangko Central ng Pilipinas, Banks, BSP, calamity, flash flood, money laundering, new bills, Ondoy, Peso, Philippine, Philippine currency, replacement В· Posted in: Announcement, banking, Government, money, Philippine banks, Philippine business news, Philippines
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