PRESIDENTIAL DECREE NO. 1689

: The title is "Increasing the Penalty for Certain Forms of Swindling or Estafa."
: To increase the penalty for certain forms of swindling or estafa involving rural banks, cooperatives, "samahang nayon(s)", and farmers' associations or corporations operating on funds solicited from the general public.
: Rural banks, cooperatives, "samahang nayon(s)", and farmers' associations or corporations/associations soliciting funds from the general public.
: It seeks to prevent erosion of public confidence in the banking and cooperative system and to counter economic sabotage threatening national stability.
: Life imprisonment to death.
: A syndicate is formed by five or more persons with the intention of carrying out the unlawful or illegal act, transaction, enterprise, or scheme.
: The penalty is reclusion temporal to reclusion perpetua.
: Articles 315 and 316 of the Revised Penal Code.
: It took effect immediately upon its promulgation on April 6, 1980.