FAKE COUNTERFEIT NEW PESO BILLS

photo courtesy of benhur arcayan, gil nartea

Not everybody has seen the new Peso Bills and yet the Quezon City branch of a  Bank where I went to told me that last week a depositor unwittingly deposited a P200 bill with the new design that turned out to be FAKE. 

Apparently, the image appearing on the white portion of the P200 bill appeared to be poorly made but overall, the fake P200 appeared to be expertly made.

BEWARE!!!

See also my related post of January 20, 2011.


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Can the New Philippine Peso Bills with NoyNoy's Signature be Faked???? . . . YES IT CAN (SEE UPDATE BELOW)

New Peso NoyNoy Peso Bills:  CAN IT BE FAKED?

Back side of New  NoyNoy Peso Bills:  Wrong color of Beak??

  Along with the New Year, 2011 brought in the new Peso bills bearing President NoyNoy Aquino's signature.

While most of the controversy pertaining to the new Peso bills centered on the color of a rare bird's beak and the erroneous geographical distance of some islands  (or was it reefs), nothing much has been said if the new Peso bills are harder to counterfeit than the previous Ninoy/Arrovo bills.

As a small business owner, I cannot help worry a lot about the frequency of fake or counterfeit peso bills in this country.  The teller of one of the country's largest bank told me that not a week goes by that they do not encounter fake or counterfeit Peso bills being deposited by unwitting depositors.  We also have taken hits on fake moneys and all of us had to share in the loss.

  In the lotto business wherein our margin is only P4.75% (or just 47 centavos for every P10 lotto bet), it mean that we have to sell almost P11,000 worth of lotto tickets to recover just one incident of a fake P500 bill (which is the bill that is so prevalent in our area)!!!!!!

We LOST MONEY from getting paid with FAKEs of the above P500 & P100 Peso bills!!

                                    I wish the government or the Bangko Sentral (Central Bank of the Phils) issue to small business owners on what are the new security features of the new NoyNoy Peso bills and how to spot fake or counterfeit Peso bills.

UPDATE 4 AUGUST 2011

The Quezon City Branch of a commercial bank told me that last week, they encountered a P200 NEW BILL that turned out to be fake.  What struck them was the high quality of the workmanship of the fake.  But the fake P200 was discovered as the image on the white portion of the bill was crudely made but still, it was a Good Fake.  BEWARE!!

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Warning against Counterfeit Money

Today I was advised by Mall Security to warn my Crew not to entertain persons who present P1000/P500 peso bills to be exchanged for smaller bills. A Fried Chicken Restaurant was just victimized.

Things to remember about Counterfeit Money:

1. Having a Money Detector (UV Light) used to illuminate the Marks on the peso bills IS NO GUARANTEE YOU WILL NOT BE A VICTIM as the counterfeit peso bills are so good that they also have the feature showing the Illuminated Marks!!

2. That same teller also told my crew and myself she no longer uses (Relies) on the Money Detector anymore (Her money detector is kept under her counter) and instead, RELIES ON THE FEEL OF THE BILLS to tell if the security paper used is genuine. (This skill can only be learned after handling thousands of bills day-in/day-out)

3. The genuine peso bill has a ribbon on the right side that changes in color when shifted under the light whereas the Fake money only has one color.

4. The pictures of the public figures on the face of the fake money bill appear cartoonish and rough as compared to the genuine peso bill especially when held under a bright light.

5. The feel of the paper of the Fake Money does feel right (some say it feels thinner, others say it feels like ordinary bond paper).

6. The green color on the P200 peso bill appears too bright or maybe a different shade of green from the genuine P200 peso bill.

7. Even Philippine Coins are being counterfeited and that is why some stores have resorted to having Magnets on hand. (Fake coins will be attracted to the magnet)

8. The opinion of our bank teller friend is that the counterfeiter are getting better and better and the above defects will in time disappear as the counterfeiter improve their skills.

The bank where we do business with said that on average, they encounter fake money 2 or 3 times a week!!

It's so hard to make a sale only to find out you just got robbed.