Peso drops to Php59 to US$1, near historic low

 

Today's exchange rate is the 2nd lowest in history (Inquirer graphic)

The Philippine peso dropped to its second lowest level against the US dollar when it closed at Php59 to the greenback this afternoon.

This was nine centavos weaker than its Pp58.91 closing yesterday.

The new exchange rate marks its lowest closing since it hit Php59.20 : US$1 on Oct 17, 2022.

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This means that the peso’s value as against the HK dollar which is pegged to the USD has also dropped. The exchange rate between the two is now Php7.59 vs the HKD.

The peso has been declining with the rest of Asian currencies in recent days, which a Bloomberg report says is due to the US dollar’s strengthening following the re-election of Donald Trump as president.

Investors are also wary of heightened US-China trade tensions and potential tariff hikes, also due to Trump’s return to power.

Yesterday, Bangko Sentral ng Pilipinas Gov. Eli Remolona said that there might be a further easing of key interest rates due to inflationary pressures.

“We can cut (rates in December) or we can pause. The move will depend on the data,” Remolona said on the sidelines of the BSP-IMF Risk Dialogue in Cebu.

“Inflation pressures may cause us to pause a bit, but weak growth may cause us to cut.”

In a move to shift to a less restrictive monetary policy, the central bank has been cutting the country’s benchmark interest rates since August. The key rate is now 50 basis points lower since, at six percent.

Before the cuts, the BSP kept interest rates steady starting in November 2023.

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8 months for using someone else’s bank account for money laundering

 

EasternCourt

A Filipina domestic helper was sentenced today at Eastern Court to eight months in jail after she pleaded guilty to using somebody else’s bank account to launder $131,000 in crime money.

Michelle Valenzuela, aged 45, pleaded guilty to dealing with property known or believed to be proceeds of an indictable offense or money laundering, a violation of the Organized and Serious Crimes Ordinance.

The police complaint accused her of dealing with dirty money using an account with Hang Seng Bank, along with a certain Richel Gania, between an unknown date in January 2020 and March 4, 2020, but did not describe what she actually did.

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At today’s hearing, Valenzuela hinted at her role – either depositing or withdrawing money -- when she answered yes to Principal Magistrate Don So’s question as to whether she used someody else’s account.

She also answered yes when Magistrate So asked if somebody gave her the ATM card of the account.

Her lawyer, in seeking leniency in sentencing, said Valenzuela is the sole breadwinner of her family and is sending two children to university.

In a separate money laundering case, Imelda Maqueda, 54 years old, was remanded in jail custody after her case was adjourned by Magistrate So to Dec. 20 on request of the prosecution.

She is accused of dealing in $312,497.50 of proceeds from crime that were deposited and withdrawn between Dec. 17, 2020 and Jan. 8, 2021.

 

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Overstayer escapes jail term

 

The Filipina got off lightly after pleading guilty at Shatin court to overstaying 

A Filipina who surrendered after overstaying her visa for more than six months walked free from Shatin Court on Monday, after the magistrate sentenced her to 12 days imprisonment, suspended for one year.

Lorena Mangusib, 40 years old, faced one count of violating her visa conditions when she appeared in court.

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She should have left Hong Kong at the end of March this year, 14 days after her contract was terminated by her employer.

However, she chose to stay until October 2, when she decided to surrender to Immigration.

Appearing before Acting Principal Magistrate Cheang Kei-hong, Mangusib pleaded guilty, and got off lightly with a suspended sentence.

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This means that she will not be jailed as long as she does not commit any offence for the next 12 months.

But having been convicted of an immigration offense, she would most likely be sent home, and not allowed to return to Hong Kong to work again.

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DMW warns of illegal recruiters on social media and other online platforms

 

135 victims of illegal recruitment receive Php50k each in financial aid from DMW

The Department of Migrant Workers in the Philippines has again warned Filipinos to be wary of illegal recruiters taking to social media and other online platforms in search of victims.

The warning came as 135 more Filipino victims of illegal recruitment or human trafficking were each given a financial assistance of P50,000, taking the total amount to Php6.75 million.

Earlier, 201 victims received the same amount under the DMW's Aksyon Fund, with the total cashout amounting to Php10,050,000.

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The DMW said the public should take note of the following to avoid falling prey to illegal recruitment and human trafficking:

1.     Take care not to fall for job offers that are too good to be true, or those that come with unnaturally high salaries and benefits. Ask the DMW in case of doubts over any job offers.

2.     Avoid job offers that are sent via email or through advertisements on social media, or those that require pre-payment.

3.     Apply only at the offices of licensed recruitment agencies that have approved job orders from DMW.

4.     Ensure that the placement fee being charged does not exceed your monthly salary. Always ask for a receipt for every payment made.

5.     Make sure that you are holding a work visa or work permit if you’re meant to work abroad. (Not student, tourist or visitor’s visa).

In addition, the DMW reminded job applicants to always verify with DMW if the agency or its agents offering the job are licensed with them to make sure the offers are genuine.

DMW reminder on avoiding illegal recruitment in Tagalog

Click on this link to verify if your preferred agency is licensed  https://dmw.gov.ph/licensed-recruitment-agencies

To check the approved job orders per country, per position or per agency, please click this link: https://dmw.gov.ph/approved-job-orders

Always inform the DMW Migrant Workers Protection Bureau (MWPB) in case of any suspicious job recruitments in your area, or of any fake overseas job posting on social media.

Contact them through  telephone number  +632 87210619 or email airtipinfo@dmw.com.ph

You may also send a message through FB Messenger: DMW Anti-Illegal Recruitment and Trafficking in Persons Program

 

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Indonesia agrees to allow Mary Jane Veloso to go home

Mary Jane has been in death row for 14 years (photo from Veloso family) 

Fourteen years after being found with 2.6 kilograms of heroin in her luggage on arrival in Indonesia and being put on death row, Filipina Mary Jane Veloso is set to go home.

President Ferdinand Marcos, Jr. said in a statement today that his Indonesian counterpart Prabowo Subianto has  agreed to allow Mary Jane to return home.

“We managed to delay her execution long enough to reach an agreement to finally bring her back to the Philippines,” said Marcos.

He added, “Mary Jane’s story resonates with many: a mother trapped by the grip of poverty who made one desperate choice that altered the course of her life. While she was held accountable under Indonesian law, she remains a victim of her circumstances.”

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However, it remains unclear whether the 39-year-old mother of two will be set free on her return or transferred to a Philippine prison.

Yesterday, the Department of Foreign Affairs said the Philippine and Indonesian governments have discussed the potential transfer of Mary Jane to a detention facility in Manila, but gave no other details.

However, DFA spokesperson Eduardo de Vega said President Marcos could extend her executive clemency once she is returned home.

Migrante International, which has maintained for years that Mary Jane was a victim of human trafficking and should not be punished, immediately released a statement thanking both the Philippine and Indonesian governments for pursuing diplomatic and political solutions to her case.

It added a call for the Marcos government to grant Mary Jane immediate clemency on her return home on humanitarian grounds, and because she should be regarded as a victim and not a criminal offender.

Mary Jane was arrested in 2010 on her arrival at Adisutjpto International Airport in Yogyakarta after the drugs were found in her luggage.

Veloso has maintained that she was unaware of the contents of her luggage as it was only given to her by her recruiters whom she identified as Julius Lacanilao and Maria Kristina Sergio.

Veloso worked in Dubai as a domestic helper for 10 months before returning to the Philippines in January 2010, claiming her employer had tried to rape her.

In April 18 of the same year, her friend Maria Kristina Sergio or “Tintin” of Talavera, Nueva Ecija offered her a job as a domestic worker in Malaysia.

Two days later, the two flew to Malaysia, where Tintin told Mary Jane the job was no longer available, but that she could still find her another job.

A few days later, Tintin sent Mary Jane to Indonesia for a supposed seven-day holiday, and promised to let her go back to Malaysia for employment afterwards.

On her arrival in Yogjakarta, Veloso was arrested by Customs and Excise authorities after the drugs were found in the luggage she was carrying.

She was sentenced to death on October 11, 2010. Since then, the Philippine government has sought to get her released in response to appeals from various non-government organizations and migrant support groups, to no avail.

Meanwhile, her alleged traffickers were convicted of large-scale illegal recruitment in a separate case by a Nueva Ecija court on Jan. 30, 2020, and sentenced to life in prison.

 

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DH jailed 8 months for money laundering

 

Another Filipina domestic helper was sent to jail today for allowing her bank account to be used in money laundering, the latest in the growing number of Filipina domestic helpers getting ensnared in the crime.

Asteria Pinili, 41 years old and DH in Hong Kong since 2019, pleaded guilty in Eastern Court to dealing with crime money, and was sentenced by Principal Magistrate Don So to eight months in prison.

In a complaint filed by police last July 30, Pinili was charged with dealing with $641,086 of “any person’s proceeds of an indictable offense” through 16 deposits into her Mox Bank account from 7 to 21 June last year. 

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In another case today, Magistrate So rejected an offer of $20,000 in cash, in a bail review for another Filipina domestic helper charged with money laundering.

Instead, he remanded Charity Joy Paculio, 45 years old, in jail custody and set another bail review for Nov. 26.

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He also affirmed the case’s adjournment to Jan. 28, which had been set earlier to finalize its transfer to the District Court.

Paculio is accused of dealing with proceeds of crime in her Standard Chartered Bank account, for deposits and withdrawals between 22^nd and 28th of February in 2023, which totalled $2,751,387.98.

 

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DMW official to hold reintegration seminar in HK

 

The talk should answer questions of OFWs planning to go home for good

Are you an overseas Filipino worker thinking of going back home for good, but are unsure as to what you can do when you retire, or what benefits, if any, you can avail of from the government?

Here is your chance to find out.

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On December 1, Sunday, Department of Migrant Workers’ Assistant Secretary for Reintegration, Francis Ron C. de Guzman will speak about the government’s reintegration program for OFWs.

His talk will be held from 9am to 12 noon at the City University of Hong Kong on Tat Chee Avenue, Kowloon.

Anybody who wishes to attend is required to register by scanning the QR code in the poster above.

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According to recent news reports from the Philippines, funds for the government’s national reintegration program for OFWs have been doubled under the term of President Ferdinand Marcos, r.

DMW Secretary Hans Cacdac said that as a result, he expects the beneficiaries of the department’s reintegration program to double to 5,000 this year, from the previous 2,500.

He said there are several programs and activities under the National Reintergration Center for OFWs, including the BPBH, Livelihood Development Assistance Program, Sa Pinas Ikaw ang Ma’am, Sir, Training on Livelihood, Skills, Techical and Professional Skills, Tulong Pangkapital, and many more.

The Overseas Workers Welfare Administration, an attached agency of DMW, has even more beneficiaries, as about 10% of the OWWA Fund is set aside for reintegration.

Administrator Arnell Ignacio said OWWA is now thinking of a new reintegration program specifically for OFWs who are into farming. He said this will not only help returning workers but will also support the food sufficiency programs of the current administration.

 

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Filipino gets 15 months’ jail for allowing illegal worker to use his ID to get job

 

An attempt to make money out of his Hong Kong Identification Card (HKID) as a permanent resident has resulted in a Filipino being jailed for a total of 15 months.

Ricardo de Austria, 53 years old, pleaded guilty today at Shatin Court to allowing another person to use his HKID to get a job, and for allowing his bank account to be used as depository for the salary earned from that employment. For that, he admitted getting a $1,500 monthly reward for two years.

His offenses came to light in September 2022 after Immigration Department officers raided a Fairwood restaurant in an anti-illegal worker operation and arrested Mohammad Shah, an Indian holding a recognizance form, for illegally working in the kitchen.

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Shah turned out to have used de Austria’s HKID to land the job.

His salary was also paid into de Austria’s Hang Seng Bank account from Aug. 6, 2020 to Sept. 7, 2022, amassing a total of $414,781.33. This became the basis for de Austria’s money laundering charge, for which he was jailed for 12 months.

De Austria’s second case, transferring an identity card to another person, resulted from lending his HKIC to his co-defendant in the case, Leila Fonte, 55. Shah, her Indian live-in partner, cannot be employed legally in Hong Kong because he is a holder of the recognizance form and subject to deportation.

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De Austria was sentenced to 12 months for each of the charges. However, Acting Principal Magistrate Cheang Kei-hong ordered that only three months of the second sentence be added to the first, with the rest being served concurrently.

For her part, Fonte was sentenced earlier to a total of 36 months in jail after being convicted of eight charges, including money laundering, conspiracy to use de Austria’s identity card, and transferring an identity card to another person.

Aside from Shah, Immigration also arrested over 20 overstaying foreign domestic helpers (FDHs) working as cleaners in the same restaurant.

“After in-depth investigation, it was discovered that the arrested FDHs had all used others' identity cards during job seeking. They would also borrow the rightful holders' bank accounts for receiving salaries. The rightful holders would provide their ATM cards for the FDHs to withdraw the salaries every month in return for a reward of around HK$2,000,” Immigration said. These salaries totalled $2.5 million.

Aside from Fonte, five people had been jailed for 12 to 15 months, it added.

“The case is still under investigation, and the Immigration does not rule out the possibility of further prosecutions,” it said in a press statement.

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DH gets 2 years’ jail for money laundering

 

The case was heard at Tuen Mun Court

For allowing her two bank accounts to be used for money laundering, a Filipina domestic helper will spend two years in jail, in one of the harshest penalties to be imposed for such a crime.

Jereza Baylon, 42 years old, was meted the penalty at Tuen Mun Court today after she pleaded gultty to two charges of dealing with property known or believed to represent proceeds of indictable offense, a violation of the Organized and Serious Crimes Ordinance.

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Baylon pleaded guilty to handling $1,352,305 of crime proceeds that flowed in and out of her Hang Seng Bank ATM account between July 31 and Aug. 29, 2023.

She also pleaded guilty to handling $788,470  of crime money deposited and withdrawn from her CITIC Bank account between July 5 and July 20, 2023.

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Acting Principal Magistrate Daniel Tang sentenced her to 18 month imprisonment for the first charge, and 12 months for the second charge,

However, he ordered that half of the second sentence be served at the same time as the first sentence, resulting in a total sentence of 24 months.

This is the most severe penalty ever imposed on a FDH convicted of money laundering in Hong Kong so far. 

The only Filipina to beat the record was a resident, Ester Ylagan, former proprietor of Emry's employment agency, who was jailed for 32 months in February this year for laundering $5.7 million which she collected by offering non-existent jobs in Canada to Filipinos.

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DH jailed 16 months for jewelry theft

 

Providence Bay in Tai Po, where theft happened (Google Maps photo)

A domestic helper was jailed for 16 months today after she admitted stealing 32 pieces of jewelry from her employer over a one-month period.

Richelle Ann Britanico, 36, agreed with the facts of the case and then pleaded guilty after it was read to her at the Fan Ling Court before Acting Principal Magistrate David Cheung Chi-wai.

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The case was filed earlier today by the Tai Po Police, shortly after arresting Britanico on a complaint of her employer.

Britanico was accused of stealing five pairs of gold earrings, one pair of Chanel brand gold and silver earrings, one gold baby pendant, one gold necklace with pearl, two silver bracelets, one gold bracelet, two gold necklaces, four rose-gold necklaces, one gold baby necklace, one gold baby anklet, two pairs of wedding bracelet, one gold necklace with box, one jade pendant and one gold pendant with necklace.

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The theft happened from Aug. 20 to Sept. 19 this year at the employer’s flat in Providence Bay, Tai Po, police said.

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