ILOILO – The Christmas season is fast approaching. It’s the time of the year when spending accelerates and, unfortunately, counterfeit money also proliferates.
According to the Bangko Sentral ng Pilipinas (BSP)-Iloilo, the public should be more vigilant against fake bills circulating during the holiday season.
Color photocopying, printing and papermaking have become so sophisticated that the inattentive can be easily duped, warned BSP-Iloilo bank officer II Lowen Andrew Ligad.
“The public must be taught how to distinguish the fakes,” he pointed out.
To spot fake money, Ligad said the public can use the basic look-tilt-feel verification measure.
Look for the watermark on the blank area of the money by tilting the paper bill a bit.
Feel the money and make sure it is rough and the images are raised.
“Dapat man nga i-check ang Republika ng Pilipinas markings and the portraits,” he added.
Also, find the security threads that appear stitch-like and metallic.
“Look at the bill and scrutinize the printing. Authentic bills have detailed prints, even the hairs of the Philippine heroes contain watermarks that are revealed when the banknote is held against the light, while security fibers show under electronic detectors,” Ligad explained.
For P500 and P1,000 bills, ensure that there are round reflective patches on the left front side that change color when rotated.
“Tilt the bill and review if the concealed value of the banknote corresponds with the value printed,” Ligad said.
The BSP also recommends verifying the money in front of the source before receiving it to avoid suspicion of swapping the real for the fake.
Ligad urged the public to immediately report counterfeit bills.
“I-report sa police if ever nakabakal or nakabaton sang kwarta nga doubtful. You should bring this bill sa BSP para ma-validate if it is genuine or counterfeit,” Ligad said./PN