n By Maricel V. Cruz
The Department of Social Welfare and Development warned beneficiaries of the government’s cash transfer subsidy program against using their cash cards or ATM cards as loan collateral.
“Anytime you pawn a cash card given to you by the government, that is illegal. It was given to you and was issued in your name. Don’t ever give it to other people,” DSWD Secretary Rex Gatchalian said in a dzBB interview.
“In effect, that new person becomes the new beneficiary. That is against the rules,” he added.
Gatchalian said the “sangla-ATM” modus carries penalties for the subsidy beneficiaries.
“There are penalties. You can be disbarred from future programs of the government,” he added.
The Bangko Sentral ng Pilipinas also advised ATM cardholders to refrain from participating in such schemes.
The BSP said it could be difficult for cardholders to monitor the withdrawals made by those who manage their ATM cards.
