BSP asks public to refrain from posting photos of 'faceless' banknotes on social media

In a press briefing Thursday, BSP Managing Director Carlyn Pangilinan called the incidents of “faceless” bills that were posted on social media “isolated cases.” Facebook/Earle Anne Yehey

BSP asks public to refrain from posting photos of 'faceless' banknotes on social media
(Philstar.com) - December 30, 2017 - 11:09am

MANILA, Philippines — The Bangko Sentral ng Pilipinas on Saturday appealed to the public to refrain from acts that would cast doubt on the credibility of the country’s legal tender after pictures of “faceless” banknotes went viral on social media.

In a statement, the BSP cautioned the public about posting photos of alleged misprinted banknotes on social media, saying that such an action “causes confusion which may negatively affect commerce.”

“The public is also advised to be vigilant against acts of those who wish to confuse, deceive or illegally profit from posting, producing and/or selling fake ‘misprinted’ notes with no numismatic value,” the central bank said.

“The BSP assures the public that it is, and has, always been committed to safeguarding the authenticity and genuineness of our currency and to protecting the public interest,” it added.

On Sunday, a bank client posted a complaint on Facebook that she withdrew “faceless” P100 bills from one of the ATMs of the Bank of the Philippine Islands in Eastwood City. 

In a press briefing Thursday, BSP Managing Director Carlyn Pangilinan called the incidents of “faceless” bills that were posted on social media “isolated cases.”

READ: BSP: 'Faceless' bills caused by printing glitch

There were reported 33 pieces of misprinted P100 bills or less than a tenth in circulation.

“In the manufacturing and production process, there are cases when machine errors cause rare misprints. In this particular case, the BSP has identified the mechanical cause of the said erroneous printing. It has since been resolved,” Pangilinan said.

She cited that there was no 100 percent error-free production of banknotes.

“This is the first time that it was loaded into an ATM,” Pangilinan said.

READ: BPI investigates viral ‘faceless’ money

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