#CurrencyLEGITeracy:
A Learning Guide on
Preserving the Integrity of
Coins and Banknotes
Objectives
To inform, educate and communicate the
following currency-related topics:
➢ BSP and Philippine legal tender
➢ Classification of banknotes and coins as
counterfeit, unfit, mutilated, or
demonetized (CUMD)
➢ The BSP Clean Note and Coin Policy
➢ Countering currency counterfeiting
➢ Currency retirement
The BSP has the sole power and
authority to issue currency within
the Philippines.
BSP Clean Note and Coin Policy
BSP Circular No. 829, Series of 2014
For safeguarding the integrity of Philippine currency
For easier detection of counterfeit notes
For health and sanitary reasons
FIT UNFIT MUTILATED
Recirculate Submit to bank for exchange/deposit Submit to bank for analysis of BSP
Requirements for Redemption
Remaining area of banknote should be/have the ff:
3/5 or 60% surface area
A portion of any facsimile signature
The security thread is intact*
* except if the damage appears to be caused by ‘wear and tear’, accidental burning, action of water or chemical,
or bites of rodents/insects and the like.
Requirements for Redemption
Coins should:
Show genuineness and/or denomination can still be
clearly and readily identified
Not exhibit signs of willful mutilation*
* filing, clipping or perforation
Proper handling of banknotes and coins
Place banknotes inside proper Place coins inside proper coin Exchange unused coins in
wallets or containers. purses or containers. banks.
Keep banknotes and coins clean. Use banknotes and coins as
payment for goods and services.
Improper handling of banknotes and coins
Writing or making any Excessive crumpling or Tearing, cutting, or
marking folding perforation
Exposing to chemicals Willful burning Stapling or placing any
adhesive
What is counterfeit money?
An imitation of a legal and
genuine note/coin intended
to deceive or to be taken for
that which is original, legal,
and genuine.
Check your banknotes
FEEL LOOK TILT
1. Security paper 4. Watermark 8. Security thread
2. Embossed prints 5. Security fibers 9. Concealed value
3. Tactile marks 6. Serial number 10. Optically variable ink
7. See-through mark 11. OVD patch
8. Security thread 12.Enhanced value panel
Check your coins
Diameter
Edge
Design
Microtext
Size and Microdots
Edge Mintmark
What to do with counterfeit currency?
Do not return to the passer Surrender to the BSP through
BSP-supervised financial
institutions (e.g., banks)
BSP: Protector of Currency Integrity
The Payments and Currency Investigation Group
“The Bangko Sentral shall have authority to investigate, make arrests,
conduct searches and seizures in accordance with law for the purpose of
maintaining the integrity of the currency”.
PCIG Agents were designated to exclusively exercise this authority vested in the
BSP.
Core Mandates:
• To Protect the integrity of the Philippine currency
• To promote the safety, efficiency, and reliability of the payment system
1 Article 50 (3) of Republic Act (R.A.) No. 7653 (The New Central Bank Act)
2 BSP Circular No. 599, Series of 2008
BSP: Protector of Currency Integrity
The Payments and Currency Investigation Group
Strategies:
BSP Rewards System (Bayani Ka Na, Magkakapera Ka Pa)
Close Collaboration with Other Law Enforcement Agencies (NBI, PNP, etc.)
Monitoring all cases of currency counterfeiting reported nationwide or other related matters
Cyber investigations – monitoring cyberspace and social media
Conduct intelligence/surveillance and field operations
Maintaining a pool of human assets/confidential informants
pcig@bsp.gov.ph (02) 8926-5092
PCIG Accomplishments: 2010 to 2021
2020-2021 PCIG Law Enforcement Operations Affiliation to Counterfeiting or Criminal Syndicate
110 Operations 179 Suspects Arrested
80% 20% 71% 29%
Buy-Bust Search Member of Counterfeiting/ Lone
Warrant Criminal Syndicate Suspect
164 Criminal Charges Filed
PCIG Accomplishments: 2010 to 2021
Volume of Seized Counterfeit Currencies
164 Criminal Charges Filed
98 65 1 Other Foreign
Currency
Philippine Peso
banknotes
U.S. Dollars Philippine Peso
coins
PENDING in court CONCLUDED DISMISSED*
1,591 pieces 12,479 pieces 14,349 pieces estimated
64 out of 65 *Due to death of value of
accused were notional value of notional value of ₱50,000,000.00
the accused
CONVICTED ₱7,806,576.00 $92,589,354.00
2020-2021 PCIG Conviction Rate
98.46%
Conviction Rate
Other items confiscated are loose firearms and ammunition,
illicit drugs, deadly weapons, printing paraphernalia, etc.
The life cycle of currency
includes the following:
01 Currency Production
02 Distribution
03 Deposit & Verification
04 Currency Analysis and Investigation
05 Currency Retirement
Overview on the Retirement of Currency
Issue NEW/FIT
Banknotes and Coins
Deposit UNFIT/ Transfer DOUBTFUL Authorized
BSP Banknotes and Coins Agent Banks
Withdraw Deposit
Currency Currency
Shredding of Defacing General Public
Notes of Coins
Parameters and Guidelines in Replacing
Unfit/Mutilated/Demonetized Currency
and Manner of Retirement
UNFIT DEMONETIZED MUTILATED
DEFACING OF COINS SHREDDING OF NOTES
A total of 445.74 metric tons A total of Php 2.44 trillion or 8,027.51
or Php152.15 millions CUMD mpcs of banknotes were retired from
coins were defaced 2019 - 2021
53.25 billion /
Php93,312.48 mpcs
Php756.88 billion /
MUTILATED 2,321.74 mpcs
Php727.17 billion /
28.52% 2,393.29 mpcs
-21%*
-24%*
DEMONETIZED
1.150%
COUNTERFEIT
4.66%
UNFIT
65.32%
2019 2020 2021
*compared with 2019
2021 Defaced CUMD Coins Data
Why retire
coins and
banknotes?
Fit Currency Removal of
in Circulation Unfit Currency
Shredded
Banknotes
Defaced
Coins
Price Currency
Stability Integrity
Key Takeaways
BSP is the sole authorized issuer of Philippine legal tender
BSP promotes currency integrity through its Clean Note and Coin
Policy
BSP and its anti-counterfeiting advocacies protects consumers and
our currency
BSP currency retirement contributes to ensuring the integrity of
currency in circulation and price stability
Preserving currency integrity is a
SHARED RESPONSIBILITY.
Recognize that BSP is the sole authorized issuer of Philippine legal
tender.
Value our bank notes and coins beyond their face value.
Be one with BSP in anti-counterfeiting advocacies.
Follow guidelines in handling counterfeit, unfit, mutilated and
demonetized bills and coins.
BSP Information, THANK YOU.
Education and
communication on
the
TALKRetirement
TO US: of Coins
Currency Policy and Integrity Department: (02) 8988-4834; currency analysis@bsp.gov.ph
and Banknotes
Payments and Currency Investigation Group: 8926-5092; pcig@bsp.gov.ph
Greater Manila Regional Office: 8988-4836; gmro@bsp.gov.ph
