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Monday, October 27, 2003
BSP designates teams to probe fake currency
By Stephen Capillas
THE Bangko Sentral Ng Pilipinas (BSP) has designated currency investigation teams to scour the country for both foreign and local counterfeit currency.
During the BSP User's Forum on BSP-Produced Statistics held at Dynasty Hotel last Friday, BSP Bank Officer VI Ludivina Gador said the teams have been coordinating with treasury and fiscal authorities in clearing out the country's coffers of fake money.
Gador issued the statement in response to last year's incident involving a person who allegedly received a fake P500 bill in an automated teller machine (ATM) in one bank here in Cagayan de Oro.
The incident had become the subject of a special report given by Councilor Michelle Tagarda to the City Council whose client happened to be the victim.
In an interview with Sun.Star, BSP Regional Director Agustin Lacbayo said the existence of fake currency is close to impossible because they have measures aimed at ensuring that no fake currencies enter ATM machines.
"Besides the complainant didn't show the bills and other additional proof. Hence without any evidence, the validity of these charges have yet to be established. Finding fake money is next to impossible and difficult to prove," he said.
Lacbayo said complaints of fake currency would have to be coursed through the BSP's examiners department who would then determine whether the currency is fake or not.
Gador, meanwhile, said any person who have received fake peso bills from either bank tellers or ATMs would have to present documents to substantiate their claims.
"For ATMs, they can present the receipts or from bank tellers whatever documentary proof they have so they can raise their complaints with us," she said, adding they would address post haste any complaints of the public concerning fake currency.
(October 27, 2003 issue)
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