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BSP Warns the Public Against Fake Checks

07.24.2013

The Bangko Sentral ng Pilipinas (BSP) is warning 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 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 material is part of a 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.


See Advisory: “Beware of Fake BSP Checks

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