[av_one_full first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=”]
[av_heading heading=’Candelaria cock derby enthusiasts warned: Beware of fake money’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]
BY RUBY P. SILUBRICO
[/av_heading]
[av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]
February 2, 2018
[/av_textblock]
[av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]
ILOILO City – Candelaria cock derby enthusiasts should be wary of counterfeit money, according to the Iloilo City Police Office (ICPO).
The annual cock derby, held every Feb. 2 fiesta of Jaro district, attracts thousands of patrons.
Every year the derby is held at the Iloilo Coliseum in Barangay San Isidro, Jaro.
“Checkpoints will be set up in several strategic areas, including the coliseum,” said Senior Inspector Shella Mae Sangrines, spokesperson of the ICPO.
Circulating counterfeit money in connivance with forgers is punishable by 12 years to 20 years imprisonment, under Article 166 of the Revised Penal Code.
Violators would also have to pay a fine of not more than P10,000.
If it is not in connivance with forgers, circulation or use of fake money is punishable with a penalty of six to 12 years of imprisonment.
Section 8 of Circular No. 829 Series of 2014 of the Office of the Governor of the Bangko Sentral ng Pilipinas (BSP) states: “No person or entity, public or private, shall design, engrave, print, make or execute in any other manner, or issue, distribute, circulate or use any handbill, advertisement, placard, circular, card or any other object whatsoever, bearing the facsimile, likeness or similitude of any legal tender Philippine currency note, or any part thereof, whether in black and white or any combination of colors, without prior authority thereof having been secured from the Governor, BSP, or his duly authorized representative.”
According to BSP, people should scrutinize peso bills carefully. The portraits on the paper bills must appear life-like, and their eyes must look like they “sparkle.”
Other security check tips:
* The serial number must have one or two prefix letters and six or seven digits, in increasing size.
* Look for other security features such as the visible red and blue fibers embedded and scattered at random on either side of the paper bill.
* All Philippine notes have embedded security thread.
* Fake peso bills are thinner and smoother than the genuine which is made of slightly rough cotton and abaca.
* Fakes bills have no watermark. In the genuine, the watermark appears when the bill is viewed against the light./PN
[/av_textblock]
[/av_one_full]
