BSP warns public against fake peso bills

BALANGA CITY — Bangko Sentral ng Pilipinas (BSP) is reminding the public to be more cautious against counterfeit peso bills by familiarizing themselves with the security features of the Philippine banknotes.

“We are here to raise awareness on identifying genuine peso bills so you could all identify which are the fake one,” BSP San Fernando Branch Deputy Director Rosario Layug-Rafael said during the Consumer Welfare Month 2018 provincial culminating activity.

BSP San Fernando Branch Bank Officer II Ma. Lourdes Laconsay said there are several security features found in genuine peso bills that the public should know to avoid being deceived.

“Our genuine peso bills have watermark on the blank area of the money and security threads that appear stitch-like and metallic,” Laconsay disclosed.

“The texture of the real peso bills is also different because it should be rough unlike the fake bills with smooth texture,” she added.

Laconsay also revealed that fake bills are mostly the 500 and 1,000 peso bills.

BSP is in close coordination with stakeholders to further educate the public on the security features and proper handling of Philippine currency.

“We are continuously intensifying the security features of the Philippine currency to further protect the Filipino people against fraudulent acts,” Laconsay furthered. (Maria Sophia Reyes, intern)