Fake bills this Christmas
The Bangko Sentral ng Pilipinas warned the public on Monday to closely examine money being handed to them because of the proliferation of fake P500 bills and othe smaller denomination during the Christmas season.
Experts said authentic bills are characterized by a rough paper and has an embossed “Republika ng Pilipinas” marking on a real P500 bill.
Fake bills, meanwhile, have think paper and are also characterized by a smooth surface.
Authentic bills also have a green or violet security thread that shows under direct light. The bill’s denomination will also show up within the security thread.
Real money will also show a watermark or likeness of the face of the personality shown in front of the bill.
A real P500 bill clearly and correctly spells out the line “Faith in our people and faith in God,” which is usually spelled out wrong in bogus bills.
A P200-bill, meanwhile, has Braille on the surface for blind people.
BSP officials, meanwhile, said they will not replace fake money surrendered by the public to banks. Those seized by law enforcement agencies will not be refunded either.
The BSP said it seizes an average of P100,000 in fake bills per month. Most of the bills are surrendered by banks that receive them from clients who try to pass them off as authentic money.
It was learned that 310.84 billion pieces of paper bills worth P169.27 billion are currently in circulation.
I asked around and it seems that Davao is a place where counterfeit money is not that much of a problem.