BSP San Fernando Bank Officer II Ma. Lourdes Lacunsay as guest speaker on counterfeit money detection.
The Bangko Sentral ng Pilipinas (BSP) calls for the vigilance of public from circulating fake money and be familiarized with new generation currency (NGC) coins and banknotes series.
In a two-hour talk on counterfeit money detection led by Philippine Bank of Communications, BSP San Fernando Bank Officer II Ma. Lourdes Laconsay presented the upgraded security features of Philippine coins and bills.
“Mas advanced na ang technology na ginamit sa ating mga pera. Mas matibay, mahalaga at maganda,” Lacunsay said during the seminar at Nepo, Angeles City last June 29.
Bank personnel and clients join the information drive on new generation currency coins and notes series.
NGC coin series comprised of the 10-Piso, 5-Piso, 1-Piso, 25-Sentimo, 5-Sentimo and the 1-Sentimo will be in full circulation this July 2018 in time with BSP’s founding anniversary.
According to BSP, ‘micro-printed details using laser-engraving technology were included in the two highest denominated coins, the 10-Piso and 5-Piso, which makes it difficult for these coins to be duplicated using traditional coin counterfeiting methods. The metallic composition of the NGC coins also discourages the illegal practice of hoarding large quantities of coins for the extraction of their metal content. The coins, which appear as “metallic silver”, are made from durable nickel-plated steel that possess very good wear and corrosion resistance. The change in material addresses concerns on discoloration predominantly observed for copper-based metals.’
Lacunsay also warns the public on the viral-release of fake P10,000 bill in social media. BSP clears the existing banknotes are P20, P50, P100, P200, P500 and P1,000 only.
To identify the fake bills, feel the paper, examine the watermark, inspect the security fiber, view the windowed and embedded security thread, check the concealed value, the optically variable ink, serial number and recognize the portrait and color.
Any unauthorized reproduction of legal tender and other violation of any regulation issued by the Bangko Sentral is punishable by imprisonment of not less than five (5) years but not more than ten (10) years.
Also present in the seminar are PBCOM Senior Assistant Vice President Head – North Luzon Area Christopher Lichauco and PBCOM Angeles Branch Business Manager Ellen Rose Basilio. The event was joined by bank personnel and clients.
PBCOM thru BSP seeks to boost information drive on counterfeit money to local government units in Pampanga.