Mayor Benjamin Magalong advised merchants and the public in general to be vigilant and to employ safeguards against the circulation fake bills observed to have become rampant anew with the holiday season.
The Baguio Tourism Council reported incidents involving fake bills at the ongoing Christmas Market at the Rose Garden Burnham Park alone.
The group said that for two nights now, mechants have been victimized by counterfeit bank notes with as much as P32,000 worth of fake bills reported on the first night.
The mayor advised businessmen to familiarize themselves and their staff with the distinguishing marks of the fake and genuine bank notes.
“Always check the money you are receiving. Fake and genuine bills can be identified through the embossed markings, watermarks and the picture of three people on the money. Please be guided by the Bangko Sentral ng Pilipinas advisory,” the mayor said.
He also warned people taking advantage of the holiday rush to spread fake money.
Under Republic Act 10951, counterfeiting of Philippine money is punishable with imprisonment of at least 12 years and one day and fines not exceeding P2 million.
If you got your hands on a fake bank note, immediately report it to the nearest police station for appropriate action. – Aileen P. Refuerzo