Intelligence operatives of the Manila Police District (MPD) are closely monitoring the operations of money exchange shops in Ermita, Manila in anticipation of the upsurge of transactions involving overseas Filipino workers changing their foreign currency for the holidays.
The move was in response to stories by The STAR on how syndicates shortchanging patrons have become active once again. There are reports that the syndicates are protected by unscrupulous policemen.
Syndicates allegedly operate through unlicensed money exchange shops which lure their victims through higher exchange rates, according to Senior Superintendent Pablo Balagtas, chief of the MPD’s Intelligence Division.
“The unlicensed money exchange shops always shortchange customers. They have nothing to lose if caught,” Balagtas said.
Several money exchange shops have recently been denied permits by the City Hall’s Business Promotion and Development Office. Balagtas said it was possible some unlicensed money exchange shops are being used by syndicates.
Balagtas said his unit is now monitoring the activities and building up a case against certain policemen who reportedly act as protectors of the syndicates.
At the same time, he lamented the victims’ lack of interest in filing a complaint against erring foreign exchange shops after getting back their money.
“That is our dilemma. We cannot pursue the case against the syndicate since there are no complainants. We cannot just arrest anybody just based on news accounts. There should be complainants,” Balagtas said.
Meanwhile, MPD director Chief Superintendent Roberto Rosales advised the public not to fall prey to sweet-talking fixers in Ermita. “Transact only with licensed money exchange shops. Usually, the syndicates offer rates way above than the usual exchange,” Rosales said.