BSP says 4 suspects nabbed for fake banknotes

ABS-CBN News

Posted at Mar 21 2022 11:05 AM | Updated as of Mar 21 2022 11:06 AM

MANILA - The Bangko Sentral ng Pilipinas on Monday said 4 suspects were arrested in Pampanga for counterfeiting Philippine banknotes.

In a statement, the BSP said it assisted the National Bureau of Investigation (NBI) in enforcement operations in Pampanga and Tarlac that led to the arrest on Jan. 19.

A total of 161 counterfeit Philippine currency banknotes and 78 fake foreign banknotes were confiscated, the central bank said.

The 4 suspects were charged with illegal possession and use of false treasury or banknotes and other instruments of credit.

"The central bank, together with law enforcement agencies, such as the NBI, has been actively conducting joint anti-counterfeiting operations," the BSP said. 

In the Philippines, those caught making fake bills face imprisonment of up to 20 years and a fine not exceeding P2 million. 

The BSP is encouraging the public to report any information on counterfeiting activities to the nearest police station or to the central bank's Currency Investigation Group (PCIG) through telephone numbers (02) 8988-4833 and (02) 8926-5092 or via email at pcig@gov.ph.

The central bank earlier advised the public to always inspect bills, even those from automated teller machines (ATMs).

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