The Bangko Sentral ng Pilipinas on Friday sought the help of the National Bureau of Investigation to find the people that have been maliciously posting photos of defaced Philippine currencies on social media.
“This is in connection with recent online and social media posts that contain fictitious Philippine currencies,” the Bangko Sentral said in a statement.
The central bank also requested the NBI to look into the identities of those who had initiated the circulation of “fake news” to deceive the public or generate entertainment from manipulated images of Philippine banknotes and coins on social media or any website on the internet.
The Bangko Sentral, under the New Central Bank Act, has the sole power to issue currency within the Philippines.
“No other person or entity, public or private, may put into circulation notes, coins or any other object or document which, in the opinion of the Monetary Board, might circulate as currency, nor reproduce or imitate the facsimiles of Bangko Sentral notes without prior authority from the Bangko Sentral,” the law said.
The is also vested with police authority to investigate, make arrests and conduct searches and seizures to maintain the integrity of the currency.
“The public is likewise encouraged to be judicious when encountering unofficial information on Philippine currencies on social media and the internet, and to contact the BSP for questions on the authenticity of Philippine banknotes and coins,” it said.
Earlier, the Bangko Sentral reminded the public that the denominations of banknotes it issued were the P1,000, P500, P200, P100, P50, and P20 only, following the image that circulated in the internet showing a P10,000-bill which, the regulator said, was fake.
“The Bangko Sentral ng Pilipinas has not produced and has not issued a 10,000-Piso New Generation Currency banknote,” it said in a statement last month.
Photos of an alleged P10,000-banknote that looked and had the same color as the P1,000-bill circulated on the social media.