Watch out for P1k, P500 fake bills – BSP
WITH the onset of Christmas rush for shopping, the Bangko Sentral ng Pilipinas (BSP) North Luzon alerted both the shoppers and shop-owners to be vigilant against counterfeit P1,000 and P500 bills being passed around.
Dante Cambri, senior research specialist of BSP, said it is an individual’s responsibility to make sure the money he receives and pays with is authentic, bearing specific anti-counterfeit markings, among these: 1) Embossed marking on the words “REPUBLIKA NG PILIPINAS.” 2) The denomination value should be rough to feel. 3) Watermarks on the blank part of the banknote should be visible under the light. 4) A 40-millimeter security thread is firmly placed in the banknote. 5) The serial number is asymmetrical – font size goes larger as it goes further to the right.
Meanwhile, PHP 500 and PHP 1000 bills have an additional feature – a rolling bar effect on the upper-left corner of the banknote. An optically-variable badge may be seen to certify that it is authentic.
He warned that if a person that receives a counterfeit, it should not be used and instead immediately report it to authorities and banks
Individuals caught using counterfeit money face imprisonment. (Ahikam Pasion)
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