QuestionsQuestions (BSP MEMORANDUM)
It warns the public about a new type of counterfeit 500-piso New Design Series note and provides guidance on how to identify distinguishing features and what to do if a suspected counterfeit is encountered.
The Currency Analysis and Redemption Division or Investigation Staff, Cash Department, Bangko Sentral ng Pilipinas (and/or the nearest BSP Regional/Sub-Regional/Regional Unit).
Examples: (1) made of two thin paper sheets pasted together with printings on the outside; (2) watermark copied by printing Benigno Aquino portrait on the inner/pasted portion using light gray ink; (3) security thread imitated by a vertically pasted strip of finely cut silvery material; (4) paper does not contain security fibers.
For genuine paper, the watermark is an inherent impression. For the counterfeit, the watermark was copied by printing the portrait of Benigno Aquino on the inner/pasted portion using light gray ink.
It states that the security thread is imitated by inserting a strip of finely cut silvery material similar to a ‘gift wrapper’ pasted vertically between two pasted paper sheets.
The portrait merges with the background and appears dull and not lifelike; eyes appear as solid mass instead of concentric lines. Lacework and other background designs are blurred and broken.
Because the serial numbers are not well aligned and are not uniform in strokes and sizes.
It states that the lines forming the picture at the back are not fine and sharp.
They should examine the notes carefully, and communicate with the BSP Cash Department units (Currency Analysis and Redemption Division or Investigation Staff) or the nearest BSP regional offices for verification/assistance.
It is framed as a public warning/memorandum by the BSP, providing distinguishing features and instructions on what to do. It reads as an advisory notice rather than a statute or a formal regulation.
Accurate identification supports proper reporting, prevents circulation of counterfeit currency, and provides factual basis for investigation, potential prosecution, and administrative handling by BSP and law enforcement.
While the text itself is advisory, failure to report may increase risk of further circulation, complicate investigations, and could expose the possessor to scrutiny depending on facts (e.g., knowledge/intent), consistent with the general policy against counterfeit currency.
It provides clear, centralized reporting mechanisms so suspected counterfeit notes can be handled promptly and properly, reducing harm to the public and aiding enforcement.
It enumerates specific physical and visual indicators—construction method (two sheets), watermark copying method, security thread imitation method, absence of security fibers, and measurable-looking print/line defects.
They should treat it as potentially counterfeit, examine it carefully, and communicate with the BSP Currency Analysis and Redemption Division or Investigation Staff or the nearest BSP regional unit.