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Bangko Sentral warns vs counterfeit money amid reports of fake 1000-piso notes

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="1000-Piso banknotes. ABS-CBN News file photo" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2017/business/03/24/20170324-philippine-peso-afp-2.jpg"/><figcaption>1000-Piso banknotes.<em> ABS-CBN News file photo</em></figcaption></figure></div><p>MANILA - The Bangko Sentral ng Pilipinas on Thursday advised the public to carefully check the security features of their banknotes amid reports on social media that fake 1000-Piso bills are circulating. </p><p>&quot;To ascertain the genuineness of the NGC banknotes, the public is advised to use the Feel-Look-Tilt method to check the security features,&quot; the BSP said.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/12/28/20/bsp-tips-how-to-spot-counterfeit-money">BSP tips: How to spot counterfeit money</a></li></ul><p>The BSP said it is verifying reports in messaging apps and social media platforms on the existence of alleged counterfeit 1000-Piso banknotes.</p><p>&quot;Under Republic Act No. 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 two million pesos,&quot; the BSP said. </p><p>The BSP said that from January to June this year, 14 individuals were arrested and 9 separate criminal charges filed in connection with counterfeit money. </p><p>It said the New Generation Currency (NGC) banknotes incorporate the latest anti-counterfeiting technology and improve the visual and tactile differentiation of each denomination. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/29/20/bangko-sentral-launches-enhanced-banknotes-with-latest-anti-fraud-technology">Bangko Sentral launches enhanced banknotes with latest anti-fraud technology</a></li></ul><p>&quot;The BSP encourages the public to immediately report any information on counterfeiting of Philippine currency to the nearest police station or law enforcement agency for appropriate action,&quot; the central bank said. </p><p>It said the public may also reach the BSP&#x27;s Payments and Currency Investigation Group (PCIG) at currencyinvestigation@bsp.gov.ph.</p><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1395875" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

The Bangko Sentral ng Pilipinas on Thursday advised the public to carefully check the security features of their banknotes amid reports of fake bills. 