Tuesday, July 23, 2013


The Bangko Sentral ng Pilipinas (BSP) today (July 24, 2013) warned the public against unscrupulous persons who pass off fake checks as supposedly issued by the BSP or the former Central Bank of the Philippines.

As modus operandi, the scammers would pretend to be authorized BSP representatives and would ask for money from victims in exchange for fraudulent checks that are made to appear to be worth millions of pesos each, the BSP said in a media release in its website (www.bsp.gov.ph).

The BSP clarifies that it does not issue, secure or guarantee checks and other commercial documents in the name of individuals or private groups.  As a financial regulator, the BSP transacts only with financial institutions under its supervision.

This warning is part of the series of advisories issued by the BSP's Financial Consumer Affairs Group to boost financial know-how of Filipino consumers and to protect the public against financial scams and frauds.

For further guidance against the scam, the public may get in touch with the BSP's Financial Consumer Affairs Group through its e-mail address at consumeraffairs@bsp.gov.ph or call them at (02) 708-7087 (direct line) and (02) 708-7701 (trunkline) local 2584, the BSP added. (END). 

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