Public warned against spread of fake money

CEBU, Philippines - Cebu City Police Office (CCPO) Director Melvin Ramon Buenafe warns small businesses in Cebu City that they may be easy prey for money counterfeits.

This is after the provincial police seized P50,000 fake bills from four men on Monday at Sogod, Cebu. The fake bills were used to buy cheap items.

Buenafe said the proliferation of fake bills is also very rampant during fiestas and other major activities where the local economy is booming. He said that based on his personal experience, fake money is also widespread during the election season.

“They should be more cautious in receiving money. Business owners should familiarize themselves with the basic features of real money,” he said.

As of the moment, they receive no reports of counterfeit money being made in Cebu City although he admits that this does not mean counterfeit money is not being circulated.

The Philippine Central Bank says that there are 10 key features for a P500-bill which the public should be familiar. 

A genuine bill has serial number while fake bills don’t. The iridescent vertical gold band on genuine notes is darkened on the fake banknote. The face of former president Benigno Aquino also looks very dirty and with crude details. The interwoven metallic strip which glimmers under the light does not shine, while little numbers repeated along the thread are missing.

Genuine notes have a rough texture because of its raised prints. In several portions of the banknote, misaligned patterns normally appear, while the microprints are unreadable but are roughly printed.

Concealed number does not show when banknotes are tilted towards an angle.

Watermark on banknotes is no longer a reliable indicator of genuine bills because some counterfeit bills also have this. Similar features are also found in P1,000 bills. —(FREEMAN)