Press Release
January 27, 2022

Poe on BSP warning on fake ATM bills:

Reminders by the Bangko Sentral ng Pilipinas to be alert of fake bills from ATMs are disquieting and raise the question on how the bogus money can find its way into the banks' machines.

The burden of distinguishing counterfeit bills emanating from banks from genuine ones should not be placed on depositors.

ATMs dispensing fake bills is unacceptable and must have no place in the banking system.

As keepers of the people's money, banks must ensure state-of-the-art defenses against security breaches.

It is our financial institutions that carry the responsibility to steadfastly guard against vulnerabilities and keenly upgrade their systems amidst the changing times to keep our people's unflinching trust in the banking industry.

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