Philippine Daily Inquirer - - BUSINESS - By Daxim L. Lu­cas @daxINQ

The Bangko Sen­tral ng Pilip­inas has asked the Na­tional Bureau of In­ves­ti­ga­tion to search for in­di­vid­u­als or groups that have been ma­li­ciously post­ing photos of de­faced Philip­pine cur­ren­cies on so­cial me­dia.

In a state­ment, the cen­tral bank said the move was in con­nec­tion with re­cent on­line and so­cial me­dia posts that con­tained fic­ti­tious Philip­pine cur­ren­cies.

“The NBI has also been re­quested to look into the iden­ti­ties of those who have ini­ti­ated the cir­cu­la­tion of ‘fake news’ to de­ceive the pub­lic or gen­er­ate en­ter­tain­ment from ma­nip­u­lated im­ages of Philip­pine bank notes and coins on so­cial me­dia or any web­site on the in­ter­net,” it said.

The BSP, un­der the New Cen­tral Bank Act, has the sole power to is­sue cur­rency within the Philip­pines. Sec­tion 50 of the law states that: “No other per­son or en­tity, pub­lic or pri­vate, may put into cir­cu­la­tion notes, coins or any other ob­ject or doc­u­ment which, in the opin­ion of the Mon­e­tary Board, might cir­cu­late as cur­rency, nor re­pro­duce or im­i­tate the fac­sim­i­les of Bangko Sen­tral notes with­out prior au­thor­ity from the Bangko Sen­tral.”

The cen­tral bank is

like­wise vested with po­lice au­thor­ity to in­ves­ti­gate, make ar­rests, and con­duct searches and seizures in ac­cor­dance with the law, for the pur­pose of main­tain­ing the in­tegrity of the cur­rency.

The move comes af­ter a Face­book page be­gan cir­cu­lat­ing last month pictures of what was pur­port­edly the new P10,000 bill sup­pos­edly re­leased re­cently by the BSP, some­thing au­thor­i­ties quickly de­nied.

A Face­book page called “Filipino Se­cret Files” has over 126,000 fol­low­ers, of whom over 121,000 have ac­knowl­edged or ap­proved of the site’s posts by click­ing “like” on them.

The BSP re­acted to the mis­lead­ing in­for­ma­tion af­ter the item was shared on Face­book thou­sands of times in the hours fol­low­ing its pub­li­ca­tion.

In a state­ment, BSP ad­vised the pub­lic that its New Gen­er­a­tion Cur­rency ban­knote series cur­rently in cir­cu­la­tion is made up of only six de­nom­i­na­tions only, namely the 1000-, 500-, 200-, 100-, 50- and 20-Piso ban­knotes.

“The BSP has not pro­duced and has not is­sued a 10,000-Piso NGC ban­knote,” the cen­tral bank said a day af­ter the fake news post went vi­ral.

In­for­ma­tion on Philip­pine ban­knotes and coins in­clud­ing of­fi­cial press re­leases and ad­vi­sories may be ac­cessed through the BSP web­site www.bsp.gov.ph or through the BSP’s of­fi­cial so­cial me­dia ac­counts on Face­book Bangko Sen­tral ng Pilip­inas, In­sta­gram Bangko Sen­tral, Twit­ter @BangkoSen­tral or YouTube Bangko Sen­tral.

“The pub­lic is en­cour­aged to be ju­di­cious when en­coun­ter­ing un­of­fi­cial in­for­ma­tion on Philip­pine cur­ren­cies on so­cial me­dia and the in­ter­net, and to con­tact the BSP for ques­tions on the au­then­tic­ity of Philip­pine ban­knotes and coins,” the cen­tral bank said.

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