THE Bangko Sentral ng Pilipinas (BSP) warns the public that printing images bearing the facsimile or likeness of Philippine banknotes may result in legal action.
This reminder comes after the National Bureau of Investigation (NBI), together with the BSP Payments and Currency Investigation Group (PCIG), arrested an individual suspected of selling money or cash envelopes using the image and design of the P1,000 “new generation currency” banknote.
“The public may be allowed to reproduce images of Philippine banknotes if authorization or approval from the BSP has been secured for educational, historical, numismatic, newsworthy, or other relevant purposes that will maintain, promote, or enhance the integrity and dignity of the Philippine currency,” the BSP said in a statement issued last Wednesday.
Pursuant to BSP Circular 829 (series of 2014), the act of reproducing the image of any legal tender Philippine currency banknotes, or any part of one, whether in black and white, in color, or combination of colors, without authority or approval from the BSP, is subject to imprisonment of five years to 10 years.
Just last month, posts circulated on social media showed alleged counterfeit 1,000-peso banknotes that end in the same serial number and all ending in -2507.
“The [BSP] advises the public to remain vigilant when receiving Philippine banknotes by carefully checking the security features to ensure authenticity,” the central bank has said in previous statements.
Under Republic Act 10951, counterfeiters of Philippine currency are subject to the penalty of imprisonment of at least 12 years and one day and a fine not exceeding P2 million.