# BSP warns of fake bills from ATMs



## Hey_Joe (Sep 13, 2016)

News is starting to be published to examine the money withdrawn from ATMs

“Should a banknote dispensed by an ATM be suspected as a counterfeit, the holder is advised to immediately report it to the bank that owns the machine,” the BSP said.

BSP was warning about this in Sept 2021, but now they are warning the notes could be in ATMs
Read the penalties & recent articles below.

Sept 2021 Article
Bangko Sentral warns vs counterfeit money amid reports of fake 1000-piso notes
ARTICLE: https://news.abs-cbn.com/business/09/09/21/bangko-sentral-warns-vs-fake-1000-piso-bills

*Section 22.* Article 166 of the same Act is hereby amended to read as follows:



> "Art. 166. _Forging treasury or bank notes or other documents payable to bearer; Importing, and uttering such false or forged notes and documents_ - The forging or falsification of treasury or bank notes or certificates or other obligations and securities payable to bearer and the importation and uttering in connivance with forgers or importers of such false or forced obligation or notes shall be punished as follows:
> "1. By reclusion temporal in its minimum period and a fine not to exceed two million pesos (₱2,000,000), if the document which has been falsified, counterfeited, or altered is an obligation or security of the Philippines.
> "The words ‘obligation or security of the Philippines’ shall mean all bonds, certificates of indebtedness, national bank notes, coupons, Philippine notes, treasury notes, fractional notes, certificates of deposit, bills, checks, or drafts for money, drawn by or upon authorized officers of the Philippines, and other representatives of value, of whatever denomination, which have been or may be issued under any act of Congress.
> "2. By prisión mayor in its maximum period and a fine not to exceed one million pesos (₱1,000,000), if the falsified or altered documents is a circulating note issued by any banking association duly authorized by law to issue the same.
> ...


SOURCE: Republic Act No. 10951

ARTICLES:

BSP warns of fake bills from ATMs
January 26, 2022
BSP warns of fake bills from ATMs

Poe irked by BSP warning on fake notes from ATMs
January 27, 2022
Poe irked by BSP warning on fake notes from ATMs | Butch Fernandez

BSP reminds public to scrutinize cash from ATMs
January 25, 2022 
BSP reminds public to scrutinize cash from ATMs

BSP reminds public to always check banknotes dispensed by ATMs
January 25, 2022
BSP reminds public to always check banknotes dispensed by ATMs - UNTV News | UNTV News


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## Hey_Joe (Sep 13, 2016)

Shopee & Lazada sell the counterfeit money detector pens, battery operated portables, 12v and 220v. They are inexpensive. Ordering mine now.
SOURCE: https://shopee.ph/search?keyword=counterfeit money detector


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## Lunkan (Aug 28, 2020)

Remarkable a bank forward the responcibility to the customers when the money come from the BANK! I find it belonging to the bank's job to check the money BEFORE they put them into their ATMs...


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## Hey_Joe (Sep 13, 2016)

Lunkan said:


> Remarkable a bank forward the responcibility to the customers when the money come from the BANK! I find it belonging to the bank's job to check the money BEFORE they put them into their ATMs...


Nonetheless, the BSP assured the public that *banks employ adequate risk management measures to deter such incidents*.

“Aside from the installation of cameras at ATM areas, *cash handlers and service providers tasked to refill ATMs are trained to detect counterfeit banknotes or verify their genuineness before placing them in ATMs*,” it said.
ARTICLE: BSP reminds public to check banknotes dispensed by ATMs

I guess newer ATMs are supposed to be capable of detecting fake money but are they being used here?
SOURCE Can ATMs Detect Fake Money?


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## Lunkan (Aug 28, 2020)

Hey_Joe said:


> Nonetheless, the BSP assured the public that *banks employ adequate risk management measures to deter such incidents*.
> 
> “Aside from the installation of cameras at ATM areas, *cash handlers and service providers tasked to refill ATMs are trained to detect counterfeit banknotes or verify their genuineness before placing them in ATMs*,” it said.
> ARTICLE: BSP reminds public to check banknotes dispensed by ATMs


 If so, why are they telling customers to check? 



Hey_Joe said:


> I guess newer ATMs are supposed to be capable of detecting fake money but are they being used here?
> SOURCE Can ATMs Detect Fake Money?


 Thats later. I think banks are suppoused to check when the BANK RECIEVED the money...


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## Zep (Jun 8, 2017)

So if an ATM can dispense fake bills then I would assume that if I went in to the bank and withdrew money that those bills could be fake as well. Maybe I should examine all the 300,000p worth of bills each time at the counter. Not


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## Gary D (Oct 28, 2013)

If a teller unwittingly takes in any fake bills the atm will be the first place they will go. The bank is not about to take the loss.


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## Hey_Joe (Sep 13, 2016)

Gary D said:


> If a teller unwittingly takes in any fake bills the atm will be the first place they will go. The bank is not about to take the loss.


Similar to vendors & all who deal with providing change when they take in torn money. Seems they always try to pass it in between other bills when they provide the change. It's happened to me many times but I always tell them to take it back & give me bill that's not torn.


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## M.C.A. (Feb 24, 2013)

If you have to rely on just a bank card for your money and have no bank account in the Philippines, you could find yourself in a bad position for many reasons unless you keep a huge cash reserve at your home, then living off your bank ATM card from your homeland could work.

I've never received a fake bill yet.


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## magsasaja (Jan 31, 2014)

Lunkan said:


> Remarkable a bank forward the responcibility to the customers when the money come from the BANK! I find it belonging to the bank's job to check the money BEFORE they put them into their ATMs...


We own a couple of businesses and bank on a regular basis. We do check notes but every so often one gets through or system. 
It always amazes me how the bank teller manages to spot a fake so quickly. They then put two holes it it and give it back 🙁


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## M.C.A. (Feb 24, 2013)

magsasaja said:


> We own a couple of businesses and bank on a regular basis. We do check notes but every so often one gets through or system.
> It always amazes me how the bank teller manages to spot a fake so quickly. They then put two holes it it and give it back 🙁


How much money have you lost this way Magsasaja... Having it given back to you by the teller?


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## magsasaja (Jan 31, 2014)

M.C.A. said:


> How much money have you lost this way Magsasaja... Having it given back to you by the teller?


Not much. I asked the wife and she reckons about 4 to 5k over the past 20 years. They were all 1,000 notes.
Yes the teller puts two holes in it and gives it back to the customer.


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## Lunkan (Aug 28, 2020)

I saw news senator Poe saying similar as I said.


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