THE Bangko Sentral ng Pilipinas (BSP) said on Wednesday it is currently verifying reports circulating in messaging apps and social-media platforms on the alleged counterfeit 1000-piso New Generation Currency (NGC) banknotes.
Earlier this month, posts circulating on the Internet reported alleged counterfeit 1000-Piso banknotes that end in the same serial number and all ending in -2507.
“The Bangko Sentral ng Pilipinas advises the public to remain vigilant when receiving Philippine banknotes by carefully checking the security features to ensure authenticity,” the BSP said.
The Central Bank added that all persons responsible for the manufacure and proliferation of these counterfeit banknotes to the public will be investigated, prosecuted, and dealt with according to law.
“As such, re-posting or further sharing of this photo or corresponding message on social media with malicious intent is highly dicouraged,” the BSP said.
“The BSP requests the support of the public in reporting persons involved in the manufacture or distribution of counterfeit Philippine currency,” it added.
Under Republic Act 10951, counterfeiters of Philippine currency are subject to the penalty of imprisonment of at least 12 years and 1 day and a fine not exceeding P2 million.
