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PIA Press Release

Bangko Sentral conducts counterfeit detection seminar in Tacloban

Tacloban City (October 12) -- in order to help the public recognize genuine Philippine currency notes and to guard against counterfeits, the Bangko Sentral ng Pilipinas is scheduled to conduct a Conterfeit Detection Seminar on October 28 and 29 at the Bangko Sentral ng Pilipinas Tacloban Branch Economic and Financial Learning Center, along Senator Enage Street.

Participants from the local government units, rural and commercial banks, pawnshop owners, remittance agents and money changers, and other interested public and private institutions, preferably those who handle cash have been invited to attend the seminar, Atty. Leonidi Sumbi, acting deputy director informed.

The schedule of seminar is from 2:00 to 4:00 o'clock in the afternoon for the first batch composed of local government units.

The second batch is on October 29 at about 9:00 to 11:00 o'clock in the morning. This is for the rural and commercial banks. The third batch at 1:00 to 3:00 o'clock in the afternoon, and the fourth batch from 3:00 to 5:00 o'clock in the afternoon, is open for pawnshoip, remittance agents and Money changers, other public and private institutions.

No registration fee will be collected from the participants of the said seminar, Atty. Sumbi said.

It would be recalled that in the last week of September, the public has expressed alarm over the sudden increase of counterfeit bills circulating in the City and in some parts of Eastern Visayas.

In fact the local BSP disclosed that from January to July 2009, some 91 fake P200 bills have been recovered by its operatives and the police, compared to last year's 14.

The local BSP also informed that several counterfeit money in denominations of P100, P500 and P1,000 have also been circulating in the City.

The BSP is encouraging victims to surrender the fake money in their possession and refrain from circulating them back to the market.

Atty. Sumbi said BSP-Tacloban is closely working with police to identify the group behind the counterfeit money. (PIA 8) [top]

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