Bangko Sentral seeks NBI help vs fake bills on social media

A Bangko Sentral ng Pilipinas employee walks past the main entrance of the central bank’s main office in Metro Manila. BLOOMBERG

MANILA – The Bangko Sentral ng Pilipinas (BSP) has sought the National Bureau of Investigation’s (NBI) assistance in tracking down individuals or groups that have been “maliciously” posting photos of defaced Philippine currencies on social media.

This is in connection with recent online and social media posts that contain fictitious Philippine currencies, the BSP said in a statement.

The NBI was also asked to look into those spreading “fake news” through manipulated images whether they are used to “deceive the public or generate entertainment,” the BSP said.

“No other person or entity, public or private (other than the BSP), may put into circulation notes, coins or any other object or document which, in the opinion of the Monetary Board, might circulate as currency, nor reproduce or imitate the facsimiles of Bangko Sentral notes without prior authority from the Bangko Sentral,” it said.

The regulator urged the public to be cautious when sharing unofficial information regarding currencies on social media.

The BSP added that it is vested with police authority to investigate, make arrests, and conduct searches and seizures in accordance with law, for the purpose of maintaining the integrity of the currency./PN

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