A person caught selling money envelopes with printed designs of 1000 peso bill note has prompted the Bangko Sentral ng Pilipinas (BSP) to crack the whip on unauthorized printing of banknote look – alikes.
BSP on Wednesday 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 1000-Piso New Generation Currency banknote.
Pursuant to BSP Circular No. 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 to 10 years.
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 public may request approval from the BSP to print or reproduce images of Philippine banknotes, through the PCIG at email address email@example.com.