Caloocan's Echiverri warns constituents on proliferation of fake peso bills

Caloocan Mayor Enrico “Recom”Echiverri on Thursday warned residents on the proliferation of fake peso bills after a man allegedly involved in the proliferation of fake money was arrested by the police.

Echiverri issued the warning after a man identified as one Richard Santos, 40, of Sta. Cruz, Manila was arrested moments after he bought a pack of cigarettes from a store owned by one Maricel Soriano, 30, of J. Teodoro St., 5th Avenue, Caloocan City.

Echiverri said that fake money proliferate during the campaign period and gangs involved in the scheme victimizes small traders.

He has also alerted the police to step up the campaign on fake money bills. Senior Supt. Rimas Calixto, Caloocan City Police head, told Echiverri that Santos was collared last April 2 at 5:30 p.m. after he paid a fake P500 bill to Soriano.

Police said that the store owner got suspicious of the serial numbers of the bill. It was at this point that Soriano screamed for help and caught the attention of the residents.

Authorities said that the serial numbers of the new Philippine peso bills are composed of one or two prefix letters and six to seven digit in asymmetric or increasing size.

The Bangko Sentral ng Pilipinas (BSP) has earlier warned the public on the proliferation of fake Philippine banknote in Metro Manila.

Other measures in detecting fake bills include the banknotes are not smooth but a little bit rough to touch, red and blue fibers embedded in the banknote paper glow under ultra violet light, the watermark shows the shadow image of the portrait and the banknote's denomination on the blank space when viewed against the light from either side of the note, among others.