BSP tightens currency complex security as ‘infractions’ rise
The Bangko Sentral ng Pilipinas (BSP) is tightening security protocols at its Security Plant Complex in Quezon City after a rise in “infractions” by banks and their representatives.
Such violations include cases in which bullets and personal firearms were brought into loading bay areas.
In response, Memorandum No. M-2026, dated Jan. 22, informed all authorized agent banks (AABs) that the facility would begin enforcing stricter rules governing the entry and exit of personnel and armored vehicles at Gate 2, the vehicle entrance on East Avenue.
The complex in Quezon City serves as the BSP’s currency production hub for banknotes and coins. It also refines gold, prints land titles for the Land Registration Authority, and crafts presidential medals and commemorative coins.
It was inaugurated on Aug. 8, 1975, originally as the Security Printing Plant, Mint and Gold Refinery Complex.
The new memo outlined security procedures that may be imposed at the discretion of the BSP’s Security Services Department or SSD. Banks that fail or refuse to comply, it warned, could be denied access to the complex.
Under the strengthened measures, personnel from the Security Services Department may inspect armored vehicles’ vault compartments during entry screening to detect potential threats, including weapons. The unit may also examine the undercarriage for concealed hazards.
Exit procedures may also require vault compartments to be reopened to ensure that no BSP or bank property is removed without proper authorization.
The memo directed banks to keep the interiors of their armored vehicles free of obstructions that could hinder the opening of vault compartments. It warned that noncompliance could lead to delays, denial of access or other restrictions within the complex.
New facility coming soon
The BSP is building a bigger and smarter new complex in New Clark City to help decongest and decentralize government operations from Metro Manila. The initiative aims to expand the capacity of the central monetary authority’s currency production and provide other vital facilities in support of its operations.
