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BSP warns public vs fake P500 bill with face of ex-President Marcos

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<p>MANILA - The Bangko Sentral ng Pilipinas on Tuesday warned the public against fraudulent or fake banknote designs after an alleged commemorative P500 bill went viral on social media. </p><p>The advisory aims to inform the public that &quot;it has not issued new banknote design or a new design series,&quot; the central bank said in a statement. <br/> <br/>In a separate Tweet, the BSP posted a photo of an altered P500 bearing the face of former president and dictator Ferdinand Marcos.</p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">NO NEW BANKNOTE DESIGN: BSP issues this advisory in response to a 500-piso note posted on a satirical news site being shared on social media. BSP encourages the public to report use of fake banknotes to the police or BSP&#x27;s currencyinvestigation@bsp.gov.ph<a href="https://t.co/9pUTNIIO02">https://t.co/9pUTNIIO02</a> <a href="https://t.co/xug49SEwZK">pic.twitter.com/xug49SEwZK</a></p>— Bangko Sentral (@BangkoSentral) <a href="https://twitter.com/BangkoSentral/status/1457920886573465603?ref_src=twsrc%5Etfw">November 9, 2021</a></blockquote><div><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8" type="text/javascript"></script></div><p>The BSP said the alleged P500 commemorative banknote was first posted on a satirical news website and is now &quot;being shared broadly&quot; in social media. </p><p>&quot;The BSP enjoins the public to stay informed about legitimate banknotes issued by the BSP,&quot; it said.</p><p>The public is also encouraged to report the use of fake banknotes to the police or to the BSP&#x27;s Payments and Currency Investigation Group through its email address currencyinvestigation@bsp.gov.ph.</p><p>Under the Republic Act No. 10951, counterfeiters of the Philippine currency could face imprisonment of at least 12 years and 1 day as well as a fine not exceeding P2 million. </p><p>In 2020, the central bank published an advisory on how to spot counterfeit bills using the &quot;feel, look, and tilt&quot; <a href="https://www.facebook.com/permalink.php?story_fbid=3660142864049516&amp;id=154917097905461" target="_blank">strategy</a>.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/28/21/bsp-p20-bill-remains-legal-tender">BSP: P20 banknote remains legal tender; urges public to recirculate P20 coins</a></li>	<li><a href="https://news.abs-cbn.com/business/10/25/21/bangko-sentral-eyes-plastic-1000-piso-bills-next-year">Get ready for plastic money: Bangko Sentral eyes polymer 1000-piso bills</a></li>	<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><div> <br/><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=1646888" 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 Tuesday warned the public against fraudulent or fake banknote designs after an alleged commemorative P500 bill went viral on social media. 