Poe: Public should not carry burden of recognizing fake ATM bills

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This undated photo shows a person inserting their card into an automated teller machine.

STAR / File

 

MANILA, Philippines — Senator Grace Poe said that depositors should not shoulder the responsibility of recognizing fake banknotes from automated teller machines (ATM), shortly after the Central Bank urged the public to regularly inspect bills as a preventive measure against counterfeiting.

 

"Reminders by the Bangko Sentral ng Pilipinas (BSP) 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," Poe said in a statement on Thursday.

 

"The burden of distinguishing counterfeit bills emanating from banks from genuine ones should not be placed on depositors... As keepers of the people's money, banks must ensure state-of-the-art defenses against security breaches," she added. 

 

Full Story: https://www.philstar.com/headlines/2022/01/27/2156755/poe-public-should-not-carry-burden-recognizing-fake-atm-bills

 

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