Abra, Ilocos bankers concerned over fake bills

Published August 30, 2014 8:13am

Bankers in Abra and Ilocos Sur provinces in northern Luzon are growing worried over the alleged proliferation of fake peso bills.

The bankers' association also advised local traders to be extra vigilant lest the money they receive is counterfeit, GMA Ilocos reported on Friday.

Citing figures from the association, the report said some P6,000 worth of fake bills had been intercepted since July.

Most of the fake bills are in P1,000 and P500 denominations.

"Kapag ma-encounter ng mga ganito ibig sabihin na may mga nagsi-circulate dito sa locality," said Land Bank of the Philippines Bangued (Abra) branch manager Rodolfo dela Paz.

The report gave tips on how to detect fake currency:

- A real P1,000 bill has a rough texture while a fake one is soft and sometimes even slippery.
- Check the serial number of the bill. A real one has two letters and six to seven digits.
- Look for the blue and red fibers in the bill.

— Joel Locsin /LBG, GMA News

Tags: falebills, ilocos, counterfeitmoney