CEBU, Philippines – Board Member Sun Shimura is asking the Banko Sentral ng Pilipinas and the country's law enforcement agencies to keep an eye on the possible proliferation of coun-terfeit money during the barangay and Sangguniang Kabataan elections next month.
In a resolution, Shimura said incidents like these reportedly have a tendency to occur during election time just like what happened in Tuburan town during the recent May polls.
A few days before election day last May, three sari-sari stores in Tuburan discovered they have been paid with fake P1000 bills. Former mayor Constancio Suezo then admitted there was a big possibility that fake money will be used on election day itself.
Monetary experts have opined that well-organized counterfeit syndicates opt to operate in places where the capabilities of concerned government agencies are allegedly weak and ineffective.
Shimura said the unbridled local proliferation of fake currency will spur a negative impact to the country's economic condition, especially that Cebu, as a tourism des-tination and convention hub, plays a key role in stabilizing the flow of domestic currency.
The Revised Penal Code penalizes the manufacture and possession of instruments or implements. Likewise, Presidential Decree No. 247 penalizes the defacement of currency notes and coins of the Central Bank.
Aside from BSP, Shimura wants the National Bureau of Investigation, the Criminal Investigation Division Group and the Cebu Provincial Police Office to undertake proactive measures on the matter. (FREEMAN)