THE United Coconut Planters Bank (UCPB) on Tuesday, June 27, said it is aware of the transfer of the over P30-million cash to Cebu City which was intercepted by authorities over the weekend.
The bank confirmed that two security escorts and two male bank tellers were held in custody by the Philippine Coast Guard (PCG)-Northern Mindanao after the cash placed inside four boxes were intercepted at Macabalan port in Cagayan de Oro City, on Sunday, June 25.
In a press statement, the UCPB said the transfer was "routine" and "part of the normal procedure to move excess bills from one cash center to another."
"The movement of the cash within the Bank's cash centers is an internal procedure, and as such, it does not need prior approval from the Bangko Sentral ng Pilipinas (BSP)," the statement said.
The legal team of UCPB in the city is coordinating with port authorities to clarify what it calls a "misunderstanding."
Authorities asked the four men to produce a certification from the Central Bank of the Philippines for the cash transfer, but they only presented an authorization letter signed by their operations officer.
"Authorization itself does not prove na authorize silang magdala ron kung walang (that they are authorized if there is no) BSP clearance," Captain Leo Panopio, PCG-Northern Mindanao Commander, said.
PCG-Northern Mindanao and BSP officials will meet Tuesday afternoon to clarify all concerns and issues on the transfer.
But Panopio said they will still bring the cash to the BSP to rule out the possibility that the money is counterfeit.
"Pupunta kaming BSP para ma-clarify lahat pati yung pera dadalhin, kasi sila mag-determine kung counterfeit ito (We will go to the BSP to clarify everything and we will also bring the money because they will be the ones to determine if it is counterfeit money)," Panopio said.
Panopio added the Central Bank will also determine the custody of the cash while the investigation is ongoing.
"May policy ang BSP tungkol sa ganyang amount na nailalabas eh. Ang alam namin sa policy ng BSP ang P4 million and above na ita-transfer should have clearance from the BSP (The BSP has a policy regarding the cash that will be taken out. What we know is that if it is P4 million and above, it will require a BSP clearance already)," Panopio added.
Panopio said the four men are still in the holding area of the PCG while authorities are verifying their identities.
"Nasa holding area pa rin sila kasi hindi naman agad sila may kasalanan patuloy pa investigation kaya naka-hold lang sila (They are still in the holding area as the investigation is still ongoing)," Panopio said.