The Bangko Sentral ng Pilipinas (BSP) continues its efforts to protect the integrity of the Philippine currency by intensifying anti-counterfeiting operations.
As the only agency responsible for issuing coins and banknotes in the Philippines, the BSP has been working with law enforcement agencies to conduct joint anti-counterfeiting operations.
Since 2010, the Bangko Sentral ng Pilipinas has conducted 129 anti-counterfeiting operations, arresting 212 suspects and seizing more than 46,100 counterfeit Philippine banknotes valued at P35.43 million.
In addition, the Central Bank of the Philippines initiated 194 cases related to counterfeit banknotes, of which 78 cases were resolved and the defendants were convicted in 76 cases, with a success rate of 97.4%.
Recently, the Supreme Court upheld the conviction of an individual convicted of illegally possessing and using counterfeit currency.
The man was arrested with 100 counterfeit P1,000 bills and 25 counterfeit P500 bills, which were confirmed to be counterfeit after inspection by the BSP.
The BSP urges the public to report any incidents of counterfeit currency to the BSP Payments and Currency Investigation Team by email or phone to the nearest police station.
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