Tags: Banking, Consumer Goods and Concerns
By Anna Valmero
PASAY CITY, METRO MANILA— As Christmas draws near, there is the threat of counterfeit money circulating in the market and the possibility of fake money ending up inside your wallet becomes very real.
Months ago, the Banko Sentral ng Pilipinas (BSP) released new banknotes called New Generation Currency (NGC), which is aimed to replace old bank notes in three years’ time. The denominations include P20, P50, P100, P200, P500 and P1,000 bills.
Maja Gratia Malic, BSP currency analysis and redemption division manager, gives a few tips on how to spot counterfeit banknotes, particular thousand-peso bills.
1. Look for ‘safety’ features. This includes embossed prints that feel rough to the touch, particularly the parts printed with the words “Republika ng Pilipinas,” and ‘Sanlibong Piso,” the portrait, signatures and value panels on the face of the note.
2. The banknote’s serial number is composed of one or two prefix letters and six or seven asymmetric digits located at the lower left and upper right corners of the face of the note. Also, the red and blue fibers are embedded on the paper at random and glow in two colors under ultraviolet light.
3. There is a shadow image of the portrait and the numeral “1000” is seen at the blank space of the note when viewed against the light from either side of the note as watermark security.
4. The word “PILIPINO” is written in ‘Baybayin,” a pre-Spanish Philippine writing system, and is seen in complete form when the note is viewed against the light.
5. A stitch-like metallic security thread runs vertically across the notes in changing colors red to green. When viewed from the front, thread bears the alphanumeric “BSP 1000” in clear text while the back is imprinted with the “BSP,” both in repeated series.
6. A reflective foil that bears the image of the South Sea Pearl inside a clam and small BSP logo can be seen as an optically variable device. The color of the clam changes from red to green when the note is rotated at 90 degrees.
7. The embossed “1000” denominational value at the lower corner of the face of the banknote changes color from green to blue when viewed at different angles.
Malic further encouraged Filipino consumers to be vigilant and to know how to identify these basic security features and avoid becoming victims of counterfeit money.
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