BSP urges public to be on lookout for fake banknotes

A teller inspects one thousand pesos bills inside a money changer in Manila. REUTERS

MANILA – Monetary authorities called on the public to be wary of counterfeit banknotes, urging them to become familiar with the various security features of Philippine currency.

In a statement, the Bangko Sentral ng Pilipinas (BSP) advised the public to “carefully feel, look, tilt their banknotes to check the identifiable security features” and even provided a detailed illustration to distinguish real currency from well-made fakes.

“One easy way to determine if banknotes are genuine and not altered is by checking the watermark by viewing the banknote against the light from either side. The watermark in the blank space should be the same image as the portrait on the banknote and denominational value,” the BSP said.

The BSP further called on the public to report any information on currency counterfeiting to the nearest police station or law enforcement agency, for appropriate action, or contact the Currency Management Sector for assistance at Tel. Nos. 988-4833 and 926-5092./PN


Please enter your comment!
Please enter your name here