ILOILO City – Beware of counterfeit peso bills, the Police Regional Office 6 (PRO-6) alerted small entrepreneurs such as sari-sari storeowners and vendors.
It issued the warning following the arrest of a woman at the public market of Guimbal, Iloilo after paying a store with what the owner later discovered to be a fake P500 bill.
“We reminde storeowners to scrutinize thoroughly the money being paid them. Some people use fake money,” said Police Lieutenant Colonel Joem Malong, PRO-6 information officer.
The Bangko Sentral ng Pilipinas (BSP) Iloilo branch urged the public as early as two months ago to become familiar with the various security features of the Philippine currency to avoid being victimized by those spreading counterfeit peso bills.
The 24-year-old Mailen Omar from Cotobato province was arrested at 9:15 a.m. on Monday after buying some items from the store of Rosita Garillo at the Guimbal public market.
Garillo told the Guimbal police Omar was the second person to pay her fake P500 that day.
According to Guimbal police chief Police Lieutenant Colonel Nelson Caro, Garillo had them compare the two fake P500 bills; they were similar.
“To us, this means there could likely be a group spreading fake money. Ga-operate sila sa mga banwa para indi mabal-an nga fake ila kwarta,” said Caro.
Malong said the PRO-6 has not monitored an organized fake money syndicate in Western Visayas.
“Based in our intelligence monitoring, may ara gid man naga-operate pero indi gid daku nga sindikato, mga magagmay lang nga mga grupo,” said Malong.
The PRO-6 will be investigating Omar, said Malong.
Omar was detained at the Guimbal police station. She faces a charge for violation of Article 168 of the Revised Penal Code (illegal possession and use of false treasury bank notes) and for estafa.
BSP said people should carefully feel, look and tilt the banknotes to check the identifiable security features.
One easy way to determine if banknotes are genuine and not altered is by checking the watermark by viewing the banknote against the light from either side.
The watermark in the blank space should be the same image as the portrait on the banknote and denominational value.
The BSP called on the public to report any information on currency counterfeiting to the nearest police station or law enforcement agency, for appropriate action.
In November 2019 over 50 pieces of fake P500 bills were seized in Barangay San Isidro, Jaro, Iloilo City.
Of particular concern to BSP-Iloilo are sectors of the economy most vulnerable to fake money – small-time traders such as vendors./PN
