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BSP assures assistance in campaign vs. doubtful currency

BAGUIO CITY (PIA) -- The Bangko Sentral ng Pilipinas (BSP) North Luzon assured its assistance to the Police Regional Office Cordillera on their campaign against counterfeit notes or doubtful currency.


BSP North Luzon Regional Director Noel Neil Malimban said they are ready to assist in planning an operation or in applying for search warrant against counterfeiters. 


"We have a unit at the BSP head office that conducts operations on counterfeiters. So, if you have information, you can coordinate with us," Malimban said.


Meanwhile, Marian Patosa, also from   BSP, appealed to the police to investigate thoroughly or coordinate with them any complaint concerning doubtful notes.


"Pag may ganito po sanang mga complaints, maimbestigahan natin kasi baka nandun pa 'yung tao and para hindi po siya makapagkalat ng mas marami pang counterfeit notes," she appealed.


She also clarified that the BSP has the final say on whether a currency is counterfeit or not. 


The Central Bank earlier pushed for the increase of length of imprisonment for faking banknotes in hopes of deterring counterfeiting.


Under current laws, proven counterfeiting of Philippine currency will be penalized with a jail sentence of at least 12 years and a day, and a maximum fine of P2 million. (JDP/DEG-PIA CAR)

(From left to right) DTI Baguio - Benguet Provincial Director Samuel Gallardo, BSP North Luzon Regional Director Noel Neil Malimban, and Marian Patosa from the BSP, during the 1st ConsumerNet meeting in Baguio City on March 17, 2022.

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Jamie Joie Malingan

Regional Editor

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