BSP: Reproducing PH banknotes prohibited

The Bangko Sentral ng Pilipinas (BSP) on Saturday issued a stern reminder to the public that duplicating local banknotes is illegal, effectively debunking a claims circulating on social media that photocopied peso bills can be used to buy goods.

“The Bangko Sentral ng Pilipinas reminds the public that reproducing Philippine banknotes without prior BSP authorization is prohibited by law,” the BSP said in an advisory.

The central bank's reminder came after a wave of social media posts misapplying a House prosecution lawyer's statement during the impeachment trial of Vice President Sara Duterte to legal tenders.

Social media posts showing photocopied banknotes saying it should be accepted as legal tender for daily transactions circulated online following a comment by Atty. Amando Virgil Ligutan, a prosecution counsel in the impeachment trial, who noted that under specific legal conditions, a photocopied document can be considered an original piece of evidence in court.

READ: EXPLAINER: Electronic copies as evidence, what the Supreme Court rules say

With this, the BSP cited its Circular No. 829, series of 2014, which states that “no person or entity may print, photocopy, distribute, or use any image or facsimile of a Philippine banknote, whether in black and white, in color, or in any combination of colors, without prior BSP authorization.”

Violating the central bank circular carries heavy penalties, including a mandatory prison sentence of five to 10 years.

The BSP, however, said it may authorize the reproduction of Philippine banknotes only for educational, historical, or numismatic purposes that help promote currency integrity, subject to the conditions prescribed under the circular. —KG, GMA News