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PIA Press Release
2006/10/25

Surrender fake coins or else - PNP

Quezon City (25 October) -- The Philippine National Police (PNP) on Wednesday urged people in possession of fake coins to surrender the bogus money or risk criminal charges.

PNP spokesman, Senior Superintendent Samuel Pagdilao, said the call is intended to help the Bangko Sentral ng Pilipinas (BSP) "take the fake coins out of circulation."

"You can be held liable for possessing these fake coins but if it came from a legitimate business transaction and you were the victim, then (you won't be charged)," said Pagdilao.

In mid-October, agents of the National Bureau of Investigation and BSP seized some P5 million worth of counterfeit Philippine coins in Valenzuela City.

Fake coins are rough in texture and genuine P10 coins do not stick to magnets, according to television reports quoting the BSP.

Asked if a reimbursement is possible should the fake coins be turned over to police, Pagdilao said this was a matter for the BSP to decide. (PIA) [top]

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