The Philippine National Police (PNP) on Thursday warned the public to remain vigilant against counterfeit bills amid their expected influx during the holiday season.
According to Mark Salazar’s report on “24 Oras,” the PNP advised people to remain careful and be alert for fake currency notes.
The Bangko Sentral ng Pilipinas , for its part, echoed the police’s warning and reiterated that the public may check the legitimacy of a paper bill through the “feel, look, tilt” test. It also warned that unscrupulous individuals caught using or possessing counterfeit cash may face jail time of up to 15 years.
“The P1,000 [bill] is just [the] remaining order from Australia. That should be coming in by early next year. That's another 300 million pieces. In contrast of course, if we look at total physical money circulation, that's more than 2 trillion. That's how much physical money there is in circulation...All denominations including coins,” BSP Governor Felipe Medalla said.
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