BSP explains how to identify fake money
Summary
TLDRAs the holiday season approaches, retailers and the public are warned about a potential surge in counterfeit money. Vendors are advised to be cautious, using money detectors and UV light to verify bills' authenticity. The Bangko Sentral ng Pilipinas (BSP) offers tips to identify fake currency, such as checking watermarks, security threads, and color-shifting features. Counterfeiters face severe penalties, including imprisonment and hefty fines.
Takeaways
- 🔍 Retailers are preparing for an increase in fake money circulation during the holiday season.
- 💸 A vendor named Adelina has been a victim of counterfeit money and now takes extra precautions.
- 🛡️ A parcel company invested in a money detector with UV light to verify the authenticity of bills.
- ⚠️ The public is advised to be cautious when handling money during the holiday rush to avoid counterfeit bills.
- 🌐 Counterfeit bills often have different watermarks, colors, and lack embossed prints compared to genuine ones.
- 👀 The BSP suggests that money detectors may not be effective against the latest counterfeit techniques.
- 📈 Newer security features, such as the 'feel and tilt' method, are recommended to identify genuine currency.
- 👁️ Look for tactile marks on the side of the bill to indicate denomination and ensure watermarks and security threads are present and correct.
- 🔢 Check the serial number for asymmetry and security fibers on the front and back of the note.
- 🌈 When held to the light, the color of the denomination should change or shift on genuine bills.
- 🚨 Turning in counterfeit money to the police is encouraged, and creating fake bills can result in severe penalties.
Q & A
What is the main concern of retailers during the holiday season according to the transcript?
-The main concern of retailers during the holiday season is the possible surge in fake money circulation.
What has Adelina, the vendor, experienced that made her extra careful with money?
-Adelina has fallen victim to fake bills a couple of times, which is why she is now extra careful in receiving money.
What investment did the parcel company make to detect fake money?
-The parcel company invested in a money detector with the help of UV light to easily confirm if a bill is real or fake.
What is the BSP's advice to the public regarding counterfeit money during the holiday season?
-The BSP advises the public to take extra caution against the circulation of counterfeit money, especially during the holiday season.
What are some of the differences between real and counterfeit bills as mentioned in the transcript?
-Counterfeit bills may have a different watermark, color, and lack embossing. Some also have security threads removed and replaced.
Why might a money detector not be effective in identifying real bills from fake ones according to the BSP?
-A money detector might not be effective because the security features of foreign currencies may have improved, making it harder to distinguish real bills from fake ones.
What method does the BSP recommend to identify fake bills?
-The BSP recommends using the 'feel and tilt' method to identify fake bills by checking for tactile marks, watermarks, security threads, and color-shifting features.
What should one look for in the watermark of a bill to determine its authenticity?
-One should look for watermarks of the denomination and faces featured on the bill that should be identical when observed under UV light.
How many lights should the security thread on the currency have, and what should it look like from the back?
-The security thread should have three or five lights depending on the currency, and when viewed from the back, there should only be one straight line.
What should the serial number on a bill look like to be considered authentic?
-The serial number on an authentic bill should be asymmetrical.
What happens to counterfeit bills when they are found, and what is the penalty for making fake bills?
-Counterfeit bills should be surrendered to the nearest police station or bank. Persons caught making fake bills could face a jail sentence of at least 12 years and a maximum fine of 2 million pesos.
Outlines
💵 Counterfeit Money Warning During Holidays
The video report by Shiloh Francisco warns the public about the risk of counterfeit money, especially during the holiday season. Retailers are gearing up for increased customer traffic and the potential rise in fake currency circulation. Adelina, a vendor, shares her experience of being a victim of counterfeit money, which has made her extra cautious. To combat this, some businesses, like a parcel company, have invested in money detectors using UV light to verify the authenticity of bills. The Bangko Sentral ng Pilipinas (BSP) advises the public to be vigilant against counterfeit money. Counterfeit bills can be identified by differences in watermarks, color, and lack of embossing. The BSP also suggests using the 'feel, observe, and tilt' method to check for security features like the label, signature, watermarks, security thread, serial number, and color-shifting ink. The public is encouraged to check bills carefully before accepting them, and any counterfeit money should be reported to the police. The consequences of creating counterfeit money include a prison sentence of at least 12 years and a maximum fine of 2 million pesos.
Mindmap
Keywords
💡Fake Bills
💡Watermark
💡UV Light
💡Security Thread
💡Tactile Mark
💡Field of Tilt Method
💡Optically Variable Device (OVD)
💡Serial Number
💡Security Fibers
💡BSP (Bangko Sentral ng Pilipinas)
💡Legal Consequences
Highlights
Public warned against fake bills during the holiday season.
Retailers preparing for potential surge in counterfeit money.
Vendors share experiences of falling victim to fake bills.
Investment in money detectors with UV light to identify fake bills.
Counterfeit money often has a different watermark and color.
Security threads may be removed and replaced in fake bills.
BSP warns that money detectors may not be effective against new counterfeit techniques.
BSP advises public to use the 'feel and tilt' method to identify real bills.
Tactile marks on currency indicate denomination.
Watermarks and security threads are key features to check for authenticity.
Serial numbers on bills should be asymmetrical.
Security fibers should be randomly spread across the bill.
Color-shifting features in the denomination and security thread indicate genuine bills.
BSP advises public to always check bills before accepting them.
Counterfeit bills should be surrendered to authorities.
Producing fake bills can result in a jail sentence and hefty fines.
Report by Shiloh Francisco emphasizes the importance of vigilance against counterfeit money.
Transcripts
warns the public against fake bills with
the holidays just around the corner find
out how you can spot fake money in this
report by Shiloh Francisco
[Music]
retailers around the Metro are preparing
for the surge of customers a month
before Christmas but aside from this
they are also preparing for a possible
surge in fake money Adelina a vendor
said she fell victim to fake bills a
couple of times this is why she is now
extra careful in receiving money
is
who works in a parcel company said they
invested on a money detector with the
help of UV light she can easily confirm
if a bill is real or fake
advises the public to take extra caution
against the circulation of counterfeit
money especially amid the holiday season
counterfeit else usually have a
watermark that's different from the
image on the bill some also have a
different color compared to the real
ones as well as prints that are not
embossed there are also fake builds
where security threads are removed and
replaced with the proliferation of
different fake bills the bsp says a
money detector May no longer be
effective in identifying real bills from
fake ones my manga security features
foreign
May improved Ates
help the public identify fake bills the
bsp said that consumers just need to use
the field of tilt method feel if the
print such as the label place in
signature or embossed nothing
rough to the patch for the new
generation currency there are tactile
marked at the side to show the
denomination one line for 50 pesos two
for one hundred three four five hundred
and four for one thousand look for water
marks of the denomination and faces
featured on the bill that should be
identical when observed under your life
look for the security thread too which
has three or five lights depending on
the currency also when you look at it
from the back there should only be one
straight line you should also check if
the serial number is asymmetrical and if
security fibers are randomly spread on
the front and back of the note when you
tell the money the color of the
denomination on the side should change
or shift this should also be observed in
the security thread and the logo or what
you call an optically variable device
match the bsp advice is the public to
always check before accepting money
counterfeit one should be surrendered to
the nearest police station or backs
persons caught making fake bills could
face a jail sentence of at least 12
years and a maximum fine of 2 million
pesos Shaila Francisco we are one use
[Music]
thank you
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