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BSP Warns Against Fake New P500 Banknote Design With Late Marcos Face

The Banko Sentral ng Pilipinas (BSP) has warned the public against fake P500 banknote design with the face of late Ferdinand Marcos.

The BSP issued a warning on Facebook over a popular picture of a P500 bill showing former President Marcos, stating it was tampered with or phony. The BSP emphasized that “no new currency designs or a new design series” have been produced.

“Ipinapaalam ng Bangko Sentral ng Pilipinas (BSP) sa publiko na hindi ito naglabas ng mga bagong disenyo ng salaping papel,” the statement wrote.

Marcos Banknote Design

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After the photo was posted on the parody page Cebu Dairy, the BSP issued the warning. The photo of the bogus commemorative banknote has been shared over 36,000 times on social media.

“Ang BSP advisory na ito ay tugon sa isang 500-piso commemorative banknote na unang nalathala sa isang satirical news website na ibinabahagi sa social media,” BSP said.

According to the satire page, the note honors the valor of then-2LT Ferdinand Marcos, who led the guerilla forces known as the “Maharlika” in defending the Philippines against the Japanese invasion. Marcos formed the Maharlika squadron, which received the most accolades and medals of any military unit in the Philippines.

It also cautioned people against taking forged currencies. Anyone who is aware of the usage of counterfeit banknotes is encouraged to contact the police or the BSP’s Payments and Currency Investigation Group.

The BSP also reminded the public that violators caught making counterfeit banknotes might face up to 12 years in prison under Republic Act 10951. Aside from that, the culprit would be fined P2 million.

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