My Google Page Rank

BSP promotes public awareness of banknote security features

PDFPrintE-mail

In light of the issuance of the new peso bank notes, the Bangko Sentral ng Pilipinas (BSP) has called on the public to be aware of the security features added to the bills in order to easily detect counterfeits.

Speaking at the sidelines of the launch of an anti-counterfeit campaign spearheaded by the BSP in partnership with IT firm Hewlett-Packard (HP), officials said that while the new bills are expensive and difficult to reproduce, the public can still be fooled if they do not know the security features of the new bank notes.

"The BSP has invested a lot of money and effort so our money can be secure from counterfeiters," said Fe dela Cruz, the BSP's director for corporate affairs.

"But if [the people] don't know how to identify counterfeits, then our investments are useless," she added.

New security features

According to Maja Gratia Malic, manager of the currency analysis and redemption division of the BSP, previous security features are still present in the new notes but the difference can be seen—or felt, for that matter—once one touches the bills.

"Pag sinalat mo [ang bagong bills], naka-emboss iyung pangalan, for example, 'Dalawampung Piso' at yung 'Republika ng Pilipinas'," Malic said.

Dela Cruz said this was achieved through a process called "intalio printing," which uses more ink and takes three to four days to dry, making it difficult to be copied just by anyone.

Aside from this, Malic said the security thread usually seen in the older version of the bank notes are still present, but were made larger so as to appear more visble.

"Sa halip na 1.4 millimeters lang, ginawa nating 4 millimeters, lalo na yung P100 to P1000 pesos," Malic said. "Madali itong makita, and it changes color from green to red and vice-versa."

The usual watermark which can be seen when the bill is brought up against the light is still present, but dela Cruz said they have added the watermark of the denomination as well.

"[These] were incorporated in the printing process, and is considered an indelible mark of the bank note," she added.

In addition, inscription has been placed on the bill, the lower part of which is visible as white markings in front while the upper part is represented as dark markings at the back of the bill, both of which should appear as one coherent working when brought up against a light.

The inscription, Malic said, is written in "baybayin," a pre-hispanic script used by early Filipinos. "The script means 'Filipino' when translated," she added.

Reporting counterfeits

When a person receives a suspicious bank note that appears to be counterfeited, dela Cruz said it should be taken to the bank immediately.

"The bank will then give the person an acknowledgment receipt, and the bank will forward the suspicious bill to the BSP," she said.

After determining if the note is counterfeit or not, dela Cruz said the central bank will inform the bank immediately so the note can be returned if proven original.

Dela Cruz maintained, however, that the BSP will not replace bills found to be counterfeited.

"In principle, the bill has no value, so we do not have to replace it," she stressed, adding that this is the primary reason why consumers should be vigilant about detecting counterfeit money.

"It's like [a warning]. People should be more conscious [about the security features] before accepting the money," she added.

Economic repercussions

This early, Malic said some have attempted to replicate the new version of the Philippine peso bills, but these incidents are too few and considered "negligible."

"It's not alarming, mga two or three pieces lang, at very dull and smooth ang mga itsura. It's easily recognizable and smooth to the touch, compared to the rough feel of our new notes," she added.

In general, dela Cruz said, patronizing counterfeit goods jeopardizes the operations of legitimate companies in the country.

"These companies pay taxes and wages and invest a lot of money to train their personnel," dela Cruz said. "Pag mas marami ang counterfeit, mawawalan ng trabaho ang mga tao."

Just recently, the government destroyed more than $39 million (P1.6 billion) worth of counterfeit goods consisting of fake handbags, sunglasses and pirated DVDs, among others.

Despite these intensified efforts against fake goods, the country remains on the US blacklist of intellectual property righs violators. — TJD, GMA News




Related news items:
Newer news items:
Older news items:

Add comment


Security code
Refresh

Cocolisap funds await PCA, City Hall coordination gab

22 Mar 2017 Hits:52 Be the first to comment!

Funds to rehabilitate the coconut industry following the cocolisap devastation cannot be released as of yet until after the Philippine Coconut Authority (PCA) regional office 9 and the city government of Zamboanga through the City Agriculturist’s Office shall have coordinated with each other and reconciled their respective figures as to the exact number of coconut trees affected by the coconut scale insects (cocolisap). This, despite the Sangguniang Panlungsod had already passed a resolution declaring a state of calamity in Zamboanga City due to cocolisap attack on the local coconut industry, affecting at least 42 barangays. Accordingly, the PCA had reported between 100,000 to 120,000 coconut trees killed by the insects, but the City Agriculturist Office had accounted for more or less 94,000 [...] Read more

Prev Next Page:

Koko sees okay of free internet access, six key bills this year

22 Mar 2017 Hits:73 Be the first to comment!

Senate President Aquilino “Koko” Pimentel III said Congress is expected to approve this year the bill on free internet access in all public places and six other key priority measures [...] Read more


Ateneo shines anew in Physician Licensure Exam

22 Mar 2017 Hits:69 Be the first to comment!

The Ateneo de Zamboanga University School of Medicine (ADZU-SOM) once again came up with an impressive performance during the recent Physician Licensure Examination (PLE) given by the Board of Medicine [...] Read more


Globe At Home Customers Meet the Cast of Wicked

21 Mar 2017 Hits:63 Be the first to comment!

The year is just beginning, but one of the highlights of 2017 is the staging of the Wicked, the West End musical, which transformed the Theatre at Solaire into the [...] Read more


Zambo harvests 80 gold medals in ZPRAA

21 Mar 2017 Hits:79 Be the first to comment!

The Zamboanga delegation ranked second in the secondary level and third in the elementary level in the recently concluded Zamboanga Peninsula Regional Athletic Association (ZPRAA) meet held in Dipolog City [...] Read more


Lamitan in state of calamity

18 Mar 2017 Hits:128 Be the first to comment!

The city council of Lamitan, last Wednesday, declared a state of calamity in the entire city. Vice Mayor Roderick Furigay said, the City Council concurred with the request of the barangay [...] Read more


Double barrel reloaded nets four more

18 Mar 2017 Hits:119 Be the first to comment!

Four more suspected drug pushers were arrested in another Project Double Barrel-Reloaded operation in Zamboanga City, last Thursday. Arrested were Gilbert Johnston y Dagoy, 48, single, of Sitio Lantawan, Barangay Pasonanca; [...] Read more


SSS releases March differential of P1,000 additional benefit

17 Mar 2017 Hits:113 Be the first to comment!

The state-run Social Security System on Thursday said it has already released about P2.1 billion to its partner banks for the release of the last tranche of the retroactive P1,000 [...] Read more


Aboitiz, DTI partner anew for Matigsalug livelihood project

16 Mar 2017 Hits:108 Be the first to comment!

AboitizPower subsidiary Therma South, Inc. (TSI) in partnership with Aboitiz Foundation, Inc. (AFI), has tied up with the Department of Trade and Industry (DTI) 11 to implement a comprehensive crafts [...] Read more


6th InfoCar meets with 100 IDPs

16 Mar 2017 Hits:96 Be the first to comment!

Some 100 internally displaced persons (IDPs) met with local and government agencies for a half-day engagement to discuss the progress and developments of the City’s rehabilitation and recovery efforts. Spearheaded by [...] Read more


Forwarding company robbed

15 Mar 2017 Hits:112 Be the first to comment!

The office of a forwarder company was robbed by unidentified burglars who carted away computer accessories, bank checks and cash. Police Station 11 report showed that the officer-in-charge of the Overseas [...] Read more


PAGASA forecasts late El Niño

14 Mar 2017 Hits:145 Be the first to comment!

The Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) forecasts the probability of El Niño in the country sometime in the later quarters of 2017. Chief Meteorological Officer Maribel G. Enriquez [...] Read more


NGCP launches program for aspiring transmission line personnel

14 Mar 2017 Hits:107 Be the first to comment!

System operator and transmission service provider, NGCP, formally introduces the Line Ranger School, a program that seeks young individuals who want to become the new generation of transmission line experts. During [...] Read more


NGCP to continue massive facility improvements in 2017

13 Mar 2017 Hits:108 Be the first to comment!

In its continuing pursuit of upgrading and strengthening the country’s power transmission network, NGCP is poised to undertake several major facility improvement programs this year. “When we took over, it was [...] Read more


Beng commits to Duterte’s order to use powers toward peace

13 Mar 2017 Hits:146 Be the first to comment!

Mayor Beng Climaco has strongly committed to implement President Rodrigo Duterte’s directive for mayors and governors to fully exercise their powers and supervision over the police and help him maintain [...] Read more


Presidential Communications Office shiftsa to 2nd gear - Andanar

12 Mar 2017 Hits:136 Be the first to comment!

Presidential Communications Secretary Martin Andanar on Thursday, announced “revitalizing” changes to be made to his office this week during a meeting with the Kapisanan ng mga Broadcasters ng Pilipinas (KBP). The [...] Read more


Job Fair hires 74 on the spot

11 Mar 2017 Hits:142 Be the first to comment!

Despite the inclement weather condition yesterday, job seekers trooped to the Red Cross Training Center in Pettit Barracks for the day-long Job Fair facilitated by the Public Employment Service Office [...] Read more


Three more nabbed for illegal drugs

11 Mar 2017 Hits:156 Be the first to comment!

Three more suspected drug pushers were arrested in the continuous anti-illegal drugs operations of the different police stations in the city. Police Station 7 Drugs Enforcement Team arrested Eric Bejerano y [...] Read more


City meets with Chinese state investors

11 Mar 2017 Hits:155 Be the first to comment!

The City Government presented its investment pitches to Chinese state officials in an investment briefing last week as part of its continued efforts to boost economic opportunities and investment partnerships. The [...] Read more