Public warned of fake bills

PHILIPPINE National Police (PNP) chief Gen. Guillermo Lorenzo Eleazar has warned the public against the proliferation of fake peso bills.

Eleazar’s warning came Friday following separate police entrapment operations conducted in Cebu City where two suspects were busted and a total amount of P112,000 of fake peso bills were seized from them.

A report from the PNP’s Criminal Investigation and Detection Group (CIDG) together with Bangko Sentral ng Pilipinas (BSP) agents disclosed that they confiscated at least P88,000-worth of counterfeit peso bills on Oct. 25, 2021.

BGen. Albert Ignatius Ferro, CIDG chief, identified the first suspect as Ivan Noval Luardo, 35. He was collared for the possession of 52 pieces of fake P1,000 and 70 pieces of fake P500 bills.

Also on October 19, a certain Joseph Mercado Salas, 36, was arrested for allegedly making fake peso bills. A total of P24,000worth of counterfeit bills was seized from him.

The CIDG reported to Eleazar that the counterfeit money was being readied to be circulated for the 2022 national and local elections.

The suspects, who are now detained in the city’s custodial facility, were charged in the Cebu City Prosecutor’s Office for violating Article 168 or the illegal possession and use of false treasury or banknotes and other instruments of credit, in relation to Article 166 of the Revised Penal Code.

“I commend the CIDG headed by Major Gen. Albert Ignatius Ferro for the successful operation that led to the arrest of two people behind the proliferation of fake peso bills in Cebu. Our ordinary countrymen are often the victims of these criminals, so we will make sure that these two regret what they did,” said Eleazar in a statement.

“These people should not be given a chance, especially now that the holiday season is approaching so we also remind our countrymen to think about receiving money from the candidates who will buy your votes because you might just be stumbled,” he added.

The PNP chief also directed the CIDG to further investigate the operation of the suspects to identify and arrest their financiers and their other cohorts.

“I also instructed the CIDG and other unit commanders to step up intelligence-gathering and operations, in coordination with the Bangko Sentral ng Pilipinas (BSP), to ensure that those who benefit from these modus will not be given opportunity to victimize our kababayan (compatriot),” said Eleazar.

“We will continue our campaign to prevent such illegal activities that would be an obstacle to our desire to have clean, orderly and peaceful elections next year,” he added.

The PNP chief, meanwhile, urged the public to be extra cautious against fake money.

“I would reiterate the advice of the BSP to the public to be wary of fake money and familiarize themselves with the security features of genuine peso bills to avoid spreading fake bank notes,” he said.

“Anyone who attempts to use counterfeit money in any transaction could face imprisonment,” he added.

“You should immediately report to the nearest police station or report to our PNP E-Report platforms if you have been a victim or have received counterfeit money so that we can immediately take appropriate action and catch the perpetrator,” Eleazar said.

Under Republic Act 10951, counterfeiters of Philippine currency are subject to the penalty of imprisonment of at least 12 years and one day and a fine not exceeding P2 million.

The central bank in September had advised the public to carefully check the security features of their Philippine banknotes to ensure their authenticity.

The BSP is verifying reports circulating in messaging apps and social media platforms on the existence of alleged counterfeit P1,000 banknotes.

The central bank regularly conducts public information campaigns to educate the public on the design, security features and proper handling of Philippine currency as well as relevant laws, policies and programs.

The BSP enhanced this year the New Generation Currency (NGC) banknotes to incorporate the latest anti-counterfeiting technology, and improve the visual and tactile differentiation of each denomination.

To ascertain the genuineness of the NGC banknotes, the public is advised to use the Feel, Look and Tilt method to check the security features.