BY JEN BAYLON
ROXAS City – Residents here are being urged to remain vigilant amid suspicions of fake currency circulation.
Authorities recovered P669,000 in counterfeit money in an abandoned car at the Teodoro Arcenas Trade Center (TATC) on Oct. 28, including a P1,000 bill that alias “Jen” used to pay a banana vendor at TATC.
The confiscated banknotes were sent to the Bangko Sentral ng Pilipinas (BSP) in Manila, which has recently confirmed the counterfeit nature of the seized cash, said Lieutenant Colonel Francisco Paguia, chief of the Roxas Component City Police Station.
The discovery of counterfeit money coincided with the money ban due to the barangay and Sangguniang Kabataan elections. However, Commission on Elections (Comelec) Chairman George noted that the amount might not fall under the Comelec’s “Kontra-Bigay” effort since no campaign paraphernalia was recovered.
Local authorities have since released “Jen” after the reglementary period of detention expired. Nonetheless, Paguia affirmed that charges against those involved in the counterfeiting operation would still be pursued.
According to the police chief, it is challenging to distinguish counterfeit money from genuine currency, as it closely resembles authentic bills.
He urged residents, particularly market vendors, to be cautious when accepting money, especially P1,000 bills, as counterfeiters often target them due to their high denomination and the significant financial loss they can impose on unsuspecting individuals.
The Roxas City police are also encouraging the public to report any suspicious transactions or individuals implicated in the distribution of fake bills to protect the community’s hard-earned income.
How to Identify Fake Money Using the Feel-Look-Tilt Method:
Step 1: Feel
Genuine banknote paper should feel distinct from ordinary paper and be slightly rough. When you run your fingers across it, you should feel the embossed prints and tactile marks. These tactile features are designed to aid the elderly and visually impaired in distinguishing different denominations but also serve as an indicator of authenticity.
Step 2: Look
Examine the bill for a watermark on the right side, which is a replica of the face on the note. This watermark should be clearly visible against the light and correspond to the face(s) on the bill. Also, check for the BSP-registered serial number, which typically consists of six numbers followed by two letters, ascending in size.
The materials used in Philippine peso bills, which include abaca and cotton fibers, are hard to replicate. You should be able to see these fibers as short lines on both sides of the bill.
Step 3: Tilt
By tilting the bill at different angles, you can observe the security thread, which should change color and design with movement. The thread’s color and width will vary according to the bill’s denomination.
A genuine Philippine peso bill will have a concealed value matching the bill’s denomination. For the 500- and 1,000-peso (cotton-abaca version) notes, look for a roller bar effect on the value panels, a security feature added by the BSP in 2020. Additionally, the 1,000-peso banknote has an optically variable device patch on the left side of the currency. (With additional details from GMA News and The Beat Asia)/PN
