Guide on Responding to Having Received Fake Money Unconsciously
FAKE MONEY – Here is a guide on what you can do if ever you unintentionally received counterfeit Philippine Peso bills.
From time to time, the national government changes the design of the Philippine Peso bills. In fact, the recently-released P1,000 bill did not only undergo a change in the design but as well as the material used in producing the bill. It is now made of polymer, different from the abaca-made banknotes before.
The productions of new banknotes is often in line with the changing of those that have already been torn due to years or usage. Peso bills are among the things that have countless transfers among the hands of many people who treat the bills differently. They are exposed to a lot of factors.
However, apart from new and torn banknotes, there is another kind that people must beware of — fake money. There were several instances in the past when fake Peso bills victimized people who received them unconsciously.
You may have yet to experience receiving a fake money. Never a wish but in case you would unconsciously receive one in the future and it’s quite too late before you recognized that it is counterfeit money, there are a few steps that you can do.
Step 1 — Identify the Case.
Bangko Sentral ng Pilipinas, more popularly called BSP, classifies cases among the two (2) major categories — the simple and the highly-technical. If you have demonitized currencies due to the damages they incurred, it is considered simple.
However, if you have received fake money, the case is considered highly-technical. It may require more days to be resolved. Make sure you bring at least one (1) of your valid IDs.
Step 2 — Visit a branch of the BSP.
Go to a branch of the Central Bank of the Philippines nearest to you. Submit your counterfeit Peso bills to the bank officer. Your fake bills will be forwarded to the CIIO or the Currency Issue and Integrity Office at the BSP-Quezon City branch.
Step 3 — Accomplish the Application Form.
Duly accomplish the application form and submit it to the attending officer of the Banko Sentral ng Pilipinas. The processing of highly-technical cases may take up to 20 days.
