Under Section 50 of Republic Act (R.A.) No. 7653, as amended, the BSP “shall have the authority to investigate, make arrests, conduct searches and seizures in accordance with law, for the purpose of maintaining the integrity of the currency.” As part of the said mandate to protect the integrity of the currency, the BSP engages in law enforcement operations to combat counterfeiting of Philippine currency banknotes and coins, as well as foreign currencies; and the defacement/mutilation of Philippine currency banknotes and coins.
Recognizing that the nefarious activity of currency counterfeiting can be more effectively suppressed with the support and cooperation of the public, the BSP, in line with its mandate, implements a reward system that encourages the public to provide information on person(s) engaged in the manufacture and/or sale of counterfeit Philippine currency banknotes and coins, as well as foreign currencies; or in the defacement/mutilation of Philippine currency banknotes and coins. Any person who voluntarily gives definite and sworn information leading to such arrest and/or conviction of individual/s engaged in the said illegal activities may qualify for the reward, except: an officer or an employee of the BSP or any intelligence or law enforcement agency such as, but not necessarily limited to, the National Bureau of Investigation (NBI), the Philippine National Police (PNP) etc., including their relatives within the 3rd degree of consanguinity or affinity.
The BSP Committee on Rewards was constituted with the objective to deliberate and determine the amount of reward in accordance with certain rules and regulation as approved by the Monetary Board. Under any circumstance, the BSP shall protect and keep the identity of its informant anonymous and confidential.
The BSP encourages the public to report any information on currency counterfeiting, or defacement/mutilation of Philippine currency banknotes and coins or any activity pertaining to the currency integrity to the Currency Issue and Integrity Office (CIIO) at Tel. Nos. (02) 8926-5092 and 8988-4833 or to the nearest police/law enforcement agencies.