BSP confirms bogus bills in circulation
WATCH out for counterfeit peso bills!
Luzviminda Soriano, BSP assistant director in Dagupan City, told local media during the KBP Forum in Dagupan City last week that as elections near, counterfeit syndicates begin distributing the fake bills and therefore, the public should be warned about the bills they receive and pass on.
One Bernadette Mangaliag, a resident of Barangay Agdao, San Carlos City, at the public market in Agno town was arrested by the police when she bought grocery items from one store at past noon of March 4 using a counterfeit P1,000 bill.
She warned voters to be wary of attempts to candidates and their supporters in 2016 to buy votes because these would likely be counterfeit because the new series are difficult to duplicate.
Soriano said the BSP has intensified its information-education drive to teach the people how to detect counterfeit money, although she said the New Generation Currency (NGC) now in circulation since last year has special features.
Lourdes Manaois, BSP research specialist, said the features of legal tender paper include use of 20 percent Philippine abaca and 80 percent cotton.
The features of the NGC bills can be felt by the hands since the numbers and letters are embossed. (Leonardo Micua)
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