BACOLOD City – Local authorities have issued a warning to the public regarding counterfeit P500 bills being circulated, particularly at Libertad Market.
The alert came after Mayor Alfredo Abelardo Benitez reported on his Facebook page that a wallet filled with fake bills was discovered at the market on Friday evening last week.
According to the post, numerous vendors at Libertad Public Market have encountered the counterfeit money.
The mayor emphasized that the city is closely monitoring the situation and urged the public to be cautious.
Theresa Robles, the market supervisor, said the wallet contained P8,410, with P8,000 in counterfeit P500 notes.
The remaining money consisted of genuine P100 and P50 bills, along with a P10 coin.
Robles said the advice to stay vigilant extends beyond the Libertad Market to other areas in the city, as the counterfeit money could be circulating more widely.
The city has also planned to collaborate with law enforcement agencies to aid in monitoring the situation and possibly identifying the suspect responsible for distributing the fake bills, who has reportedly been targeting vendors for several weeks.
The Bangko Sentral ng Pilipinas has been advising the public to be vigilant against fake money. Use the “Feel-Look-Tilt” method to check the authenticity of banknotes when making or receiving payments, it stressed./PN
