How can you tell if Philippine money is real?
“One easy way to determine if banknotes are genuine and not altered is by checking the watermark by viewing the banknote against the light from either side. The watermark in the blank space should be the same image as the portrait on the banknote and denominational value,” the BSP said.
Is printing money illegal in the Philippines?
It was at this internet café that Cagay reportedly printed the fake money bills. … The Revised Penal Code of the Philippines prohibits “forging or falsification of treasury or bank notes (money bills).” Anyone found guilty of violating this provision of the law shall suffer imprisonment from six to 10 years.
What should I do if I receive fake money in the Philippines?
MANILA, Philippines– If you happen to receive counterfeit money, be smart; turn it over immediately to police to avoid trouble. The Philippine National Police on Thursday said authorities are now applying the “last-touch principle” due to the proliferation of counterfeit notes.
What happens if you take a counterfeit bill to the bank?
Depositing counterfeit money into a bank account is illegal, even if you do not know it is illegal. However, a court would have to prove intent to defraud the bank. Money passes hands every day, so unless you knew the money was counterfeit, you probably would not go to jail.
What color is the mark on a fake bill?
The pen reacts to starch contained in most paper sold around the world. Real U.S. currency paper does not contain starch. So if the bill is real, the ink turns yellow. But if it’s fake, it will turn a dark blue or black.
Can ATMs detect fake money?
It is against the law to deposit counterfeit money, whether it is via the teller, or via an ATM. They will discover it, and be able to trace it back to you (that’s easily than you think). You will be charged with passing counterfeit bills.
Can ATM give fake money?
ATMs have a mechanism that reads money. It will automatically reject counterfeit and mutilated bills. Also, many ATMs are serviced directly by armored car services, so the cash comes directly from the federal reserve. There is no chance of ever getting a counterfeit bill from an ATM.
Will a bank replace a counterfeit bill?
Will my bank replace fake money? Banks can, at their discretion, replace fake money received by their customers, but they are unlikely to do so. It makes little difference where the counterfeit came from — a store, an individual, or an ATM. In most cases, you’ll end up writing off the loss.