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How to detect fake Peso Bills

Tuesday, August 19, 2008

 

I have received these fake bills from my former workplace. I haven’t experienced receiving fake moneys before and I really don’t  know how to detect which is fake and which is not. I was incharge of our of company’s petty cash, give the meal allowances to my co-workers and all that regarding to our office’s bills and payment. Everything went smoothly for the past three months then the incident with the fake bills happened. It was the bank’s assigned employee who had detected the fake bills and I was shock and at the same time embarassed. I was so worried because we had a lot of salesman in the company and I didn’t know who among them is the culprit. They were all kind and shared their sympathy, they too didn’t know they had collected a fake bill. So, we shared little amounts to recover the amount that had been lost. The first one that I receive was the fake 500 Peso Bill, second the 1,000 and the third is a 200 Peso Bill. I really don’t know why I haven’t detected the fake from the real ones. Guys. be careful too.

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 Fake 1,000 and 500 Peso Bills.

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Experts said authentic bills are characterized by a rough paper and has an embossed “Republika ng Pilipinas” marking on a real P500 bill.

Fake bills, meanwhile, have think paper and are also characterized by a smooth surface.

Authentic bills also have a green or violet security thread that shows under direct light. The bill’s denomination will also show up within the security thread.

Real money will also show a watermark or likeness of the face of the personality shown in front of the bill.

A real P500 bill clearly and correctly spells out the line “Faith in our people and faith in God,” which is usually spelled out wrong in bogus bills.

A P200-bill, meanwhile, has Braille on the surface for blind people.

BSP officials, meanwhile, said they will not replace fake money surrendered by the public to banks. Those seized by law enforcement agencies will not be refunded either.

The BSP said it seizes an average of P100,000 in fake bills per month. Most of the bills are surrendered by banks that receive them from clients who try to pass them off as authentic money.

It was learned that 310.84 billion pieces of paper bills worth P169.27 billion are currently in circulation.

Click here on How to detect fake peso bills and coins.

 

Posted by meiyah at 1:22 am | permalink | comments[3]