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

Beng lauds add’l air routes

28 Jul 2017 Hits:49 Be the first to comment!

Mayor Beng Climaco has highly praised Cebu Pacific for the opening of new routes to Cagayan de Oro and Cotabato City from Zamboanga stressing that it will help boost economy and tourism in this part of the country. Cebu Pacific on Wednesday launched its inaugural flights from Zamboanga to Cagayan de Oro and Zamboanga to Cotabato City .  Zambo-CDO will have four times a week schedule while Zambo-Cotabato will fly thrice a week. “This will indeed give passengers more access to traverse through Mindanao,” Mayor Climaco said adding that this will provide people another option aside from travelling to Cagayan de Oro or Cotabato City by land which takes over 10 hours  of travel time. Travel time to Cagayan de Oro by air [...] Read more

Prev Next Page:

DEPENDABLE SHOOTER… BON

28 Jul 2017 Hits:47 Be the first to comment!

Este si Mar-Khayyam Lao Basiri, conosido na nombre “Bon”, 35 años de edad, 5’5” el altor, casao cun Mica Jire L. Basiri y diila anak si Mackhayla Justinne L. Basiri [...] Read more


SANGGUNIANG PANLUNGSOD... ACHIEVERS 2017

27 Jul 2017 Hits:54 Be the first to comment!

El Govierno local del Ciudad de Zamboanga ya organiza mga torneo para del maga empleado donde el maga participantes sale na diferente departamento. Diferente desportes el puede participa juga maga [...] Read more


ZAMBOANGA CITY… 2ND RUNNER UP - MAYOR’S CUP… ARAW NG IPIL BASKETBALL TOURNAMENT.

25 Jul 2017 Hits:94 Be the first to comment!

El ya organiza para hace con este Team Zamboanga City amo si Bernard Gonzales y ele el ya para como el manager hunto con Atty Dino Ferrer para contesta todo [...] Read more


STREET SHOOTER... DEX

24 Jul 2017 Hits:154 Be the first to comment!

Este si Dexter Montojo Garcia , Ta llama conele mga barcada  “Dex”, 28 años de edad, 5’11” el altor y residente de Lumiyap Divisoria, Ciudad de Zamboanga . Su mayores [...] Read more


ZAMBOANGA CITY WESTERN EAGLES CLUB SPORTFEST

23 Jul 2017 Hits:104 Be the first to comment!

Este el  TFOE Philippine Eagle WMR -3  ZCWEC Basketball League que ya encabesa el Presidente de ZCWEC  Eagle  Jimmy  U. Cabato y el Tournament Manager si Eagle Allan E. Lagumbay [...] Read more


SPEED FIRE... RONNEL

21 Jul 2017 Hits:110 Be the first to comment!

Este si Ronnel Ivan Lao Basiri, conosido na nombre “Ronnel” , 22 años de edad, 5’7” el altor , soltero y residente de Tetuan , Ciudad de Zamboanga .Si Ronnel [...] Read more


Mayor, security sector meets with Maranao leaders

20 Jul 2017 Hits:154 Be the first to comment!

Mayor Beng Climaco and the security sector met with leaders of the Maranao community in Zamboanga to discuss issues pertaining to the ongoing Marawi crisis, the condition of Maranao families [...] Read more


D’ FAST and D’ FURIOUS... KAN

20 Jul 2017 Hits:128 Be the first to comment!

Este si Hemill Kan Lao Basiri , ta llama conele na palayao “KanKan”, 25 años de edad, 5’5” el altor, y residente de Tetuan , Ciudad de Zamboanga . Su [...] Read more


Man hacked by neighbor

19 Jul 2017 Hits:123 Be the first to comment!

A man was hacked by his neighbor near Jumbo Bridge in Barangay Guiwan, this city, on Sunday night. The victim was identified as Jimmy Delos Reyes Viray, 39, single, a resident [...] Read more


D’ SLASHER... BRYAN

19 Jul 2017 Hits:107 Be the first to comment!

Este si Bryan Russel Balansag Animos , ta llama conele “Bryan “, 26 años de edad, 5’10 el altor , soltero y residente de Pasonanca Ciudad de Zamboanga . Su [...] Read more


D’ QUICK BROWN FOX … Rhon Rhon

18 Jul 2017 Hits:125 Be the first to comment!

Este si Ronnel  Tatud Daruca , ta llama conele na palayao “Rhon Rhon”, 28 años de edad , 5’8” el altor , soltero y residente de Tumaga , Ciudad de [...] Read more


D’ HAWK... ALVIN

17 Jul 2017 Hits:117 Be the first to comment!

Este si Alvin John Bernardo Munio , ta llama conele “Alvin”, 31 años de edad, 6’1” el altor , y residente de Caragasan , Maasin , Ciudad de Zamboanga . [...] Read more


DOLPHIN MOVES... JUN JUN

16 Jul 2017 Hits:153 Be the first to comment!

Este si Angelito Surjedo Pacatang Jr., ta llama conele na palayao “Jun Jun” , 26 años de edad , 5’8” el altor y residente de Callejon Drive . Guiwan , [...] Read more


(Sharing Time) There’s no end of the world, but only..

16 Jul 2017 Hits:121 Be the first to comment!

TO disabuse the minds of many, there’s no destruction of our planet Earth in its physical form. The earth won’t at all go kaput or be devastated into pieces. The [...] Read more


IRON MAN PLAYER… Modz

15 Jul 2017 Hits:127 Be the first to comment!

Este si Modivar Mabolo Enriquez, ta llama conele na palayao “Modz”, 36 años de edad,  5’10” el altor, casao y su esposa si Leslie Morales Enriquez, diila mga anak si [...] Read more


Man stabbed in Ayala

15 Jul 2017 Hits:135 Be the first to comment!

A man was allegedly stabbed while walking with his common-law-wife in Dumagsa, Barangay Ayala, this city, on Wednesday night. Reports coming from Police Station 9 identified the victim as Jessie Dagooc [...] Read more


CHO withholds occupancy permits for Z3R housing units

15 Jul 2017 Hits:114 Be the first to comment!

The City Health Office has withheld its recommendation for the issuance of occupancy permits for the housing projects under the Zamboanga City Roadmap to Reconstruction and Rehabilitation (Z3R) due to [...] Read more


Driver surrenders to soldiers after bumping girl on road

14 Jul 2017 Hits:141 Be the first to comment!

For fear of retaliation from the family of his victim, a Public Utility Van (PUV) driver surrendered to the members of the Philippine Marines manning a checkpoint at Barangay Muti, [...] Read more