PNP reminds public to be conscious of money used for transactions
PNP reminds public to be conscious of money used for transactions
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00:00 How do you know if the 1,000 polymer banknote and other Philippine bills you are holding are real or fake?
00:06 Let's find out in this report by Sujan Kim.
00:08 Counterfeit banknotes or fake money is a long-standing issue,
00:14 but more so during the Christmas season when consumption is at an all-time high
00:18 and a huge uptick in financial transactions even in the informal economy.
00:22 With this, the police is reminding consumers to be vigilant with the money they use for transactions.
00:28 That's what they use to deceive people.
00:32 They use it to pay for fake money, especially now during Christmas.
00:37 That's why we are alert in case of complaints or if there are more complaints.
00:46 But for now, what we are doing is in line with our call, our Oplan Bandilyo.
00:52 The police is reminding us to be vigilant with the money we use for transactions, especially during Christmas.
01:03 There are free notes in the current series of the Banko Sentral ng Pilipinas,
01:07 the New Generation Currency or NGC, the Enhanced New Generation Currency or ENGC,
01:13 and the 1,000 Denomination Polymer Bill.
01:16 The difference with the NGC or ENGC is that there are enhancements that are added to the ENGC,
01:24 such as the tactile marks.
01:27 The tactile marks are pairs of short horizontal lines.
01:35 It denotes the denomination and at the same time,
01:39 it is one of the security features which can be felt by our fingers.
01:45 Another enhancement or another security feature to enhance the ENGC
01:50 is the window security thread in the OVD patch or the OVD or Optically Variable Ink.
01:57 The NGC and ENGC are both designed to be used for the same purpose.
02:05 To know whether the bill is real or fake,
02:07 the Banko Sentral recommends the use of the feel, look, tilt method or the FLT.
02:12 If the banknote feels smooth and there are no signs of embossment,
02:16 the bill is generally fake.
02:17 The following should be embossed.
02:19 Furthermore, using the look method,
02:21 there should be the presence of a watermark once the bill or note is raised against the light.
02:26 Look method.
02:28 So in the NGC, what should we look at?
02:32 There is here a blank space.
02:35 Or let's say it's white, there's nothing printed.
02:39 But if we look at the light,
02:44 we can see the image of the people who are printed here.
02:51 As for the tilt method, when the bill is tilted,
02:54 the colors of the windowed security thread will change from red to green and green to blue.
02:58 What is the tilt method?
03:02 It's like the bar is rolling.
03:05 That's why we call it the rolling bar effect.
03:09 It's like rolling.
03:10 There's a line rolling.
03:12 If the security features are not present in the bill, it is counterfeit.
03:16 The Banko Sentral reminds the public that dealing in counterfeit banknotes is punishable by law.
03:22 Although if you are on the receiving end, there is no case against that.
03:26 The BSP, however, encourages all to bring their counterfeit notes to the nearest police station
03:31 or bank and have them checked or reported.
03:34 The BSP also conducts a Know Your Money training or KYM
03:37 to educate the public and mitigate cases of fraud.
03:40 This Christmas, both the BSP and the PNP remind us to be vigilant and transact wisely.
03:46 This Christmas, since we have a lot of cash transactions,
03:51 we are reminding our fellow citizens to check the banknotes you are receiving.
04:02 If you are happy and you think you have 1,000 pesos, that's a lie.
04:08 We should check the money we are receiving and at the same time, we should use it for transactions.
04:17 Let's not just accept and hide.
04:20 If you experience something like this, call us.
04:24 Although we are alert to such situations.
04:30 Soojin Kim for the nation.