BSP alerts negrenses on fake money

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BACOLOD CITY: Bangko Sentral ng Pilipinas-Bacolod Branch Deputy Director Job Nepomuceno reminded Negrenses to be alert about the circulation of fake peso bills during the holidays. He said that although they are not certain where the counterfeit money is coming from, it is possible that this is produced locally. Nepomuceno added that cash handlers should also provide time to check the authenticity of the bills they receive. The BSP earlier announced that it has upgraded the security features of the new generation banknotes, and had also launched a nationwide information campaign to educate the public on how to tell genuine banknotes from counterfeits. The BSP said genuine peso bills are rough and coarse in texture; they do not glow under ultraviolet light but feels substantial and solid to touch; the watermark figure or the silhouette of the portrait on the face of the note is solid, distinct, well-defined; the red and blue security fibers are visible and are embedded and scattered at random on both surfaces of the bill. Also, the prints like Republika ng Pilipinas (Republic of the Philippines), amount in words, and numerical figures at the lower right hand of the banknotes and signatures are clearly printed and readable. Serial numbers are composed of one or two prefix letters and 6 to 7 digits that are also clearly printed, and uniform in size and thickness on the banknotes. In Negros Occidental, the public can report counterfeiting incidents to BSP-Bacolod Branch or through hotline number 434-7755.

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