The Bangko Sentral ng Pilipinas called on the public to be attentive to the money they receive, especially this Christmas season.
The BSP warned it maybe fake money.
“Every week in average there are two people who turn over fake money to BSP,” said Dorothy Joy Diaz Bank Officer II, BSP during the Kapehan sa Dabaw On October 30, Monday.
She said the fake bills, from P20 to P1000 bills, have been turned over by the banks with some individuals showing up to turn over fake money.
Most fake bills are in the P1,000 denominations.
Diaz it always pays to double check the money handed over by the cashier or the customer especially when it is a big amount.
Basic techniques in checking the money is to Look-Tilt- Feel.
The feel should be rough and not smooth because the money used is a special security paper with an embossed print. Secondly, in the look technique, there should be a watermark it can be seen if you look at the money against the light.
There should also be a security fiber which is the blue and red fiber. There should also be a security thread. In P20 and P50 bill the security thread can be seen in inside if placed against the light. “If there is no security thread then the money has no value,” said Diaz.
She said that store owners should not be relying alone on the UV light money detector because it will need electricity and it is expensive. “They should be familiar with the security features of the money,” said Diaz.
BSP has a campaign that will entice the people to report those people who make fake money by giving them monetary reward. “They can be tipster, they can call the BSP to report, their identity with be withhold and from there the BSP will coordinate with the PNP to conduct raid said Diaz.
BSP also conduct lectures if there are interested people who wants to know how to determine the fake money and the real ones. This lecture also covers what they are going to do if they receive fake money.
“If the money is true then BSP will replace it, but if fake then we will issue a certificate that will indicate that the money submitted is counterfeit,” said Diaz.
She said that there were no cases of fake money manufacturer here in the city . “There are some cases in other parts of Mindanao but here in the Davao region there were no reports of raid due to manufacturing of fake money,” said Diaz.
BSP is hoping that there are no individuals who are making fake money here in the region.
