P190T worth of fake bills turned over to BSP in 2015

CEBU, Philippines – Close to P190,000 worth of suspected fake peso bills were turned over to the Bangko Sentral ng Pilipinas-Cebu Regional Office from January to December 1 this year.

Data shown by BSP-Cebu to reporters yesterday indicated that a total of 281 pieces of counterfeit bills worth P187,770 were turned over by the local police and other sources.

The biggest amount of fake banknotes seized by the police this year was P50,000 so far -- the smallest is P50.

Most of these counterfeit banknotes were received from various police stations in Cebu which got these money during their operations.

A BSP staff who showed the data said that several cases had already been filed by the police against the suspected counterfeiters.

These fake bills were sent to the BSP's Currency Issue and Integrity Office for examination.

In an interview yesterday, BSP-Cebu Director Lawyer Leonides Sumbi said that P1,000 and P500 are the denominations usually faked.

Sumbi reminded the public to be vigilant against fake money, telling them to check the security features of the bills.

Sumbi added that circulation of fake bills may increase during the election season next year, so she told the public to be wary and turn over any fake money to the BSP since they have no value at all. (FREEMAN)