Three individuals, including an Australian, were arrested by police for attempting to deposit $496,000 worth of fake US bills in a bank in Makati City on Wednesday, Nov. 20, the Southern Police District (SPD) reported.
Police identified the suspects as "Emmanuel," 42, an Australian tourist; "Jessirose," 59, a human resource employee of a foundation; and "Imelda," 59, a retired accountant.
According to the police, the trio attempted to deposit the counterfeit money in a bank on Arnaiz Avenue in Barangay San Lorenzo.
"The fraudulent currency was subsequently confirmed as fake by a representative from the Bangko Sentral ng Pilipinas (BSP), following a thorough investigation," the SPD said.
"The suspects now face complaints for violating Article 168 of the Revised Penal Code, specifically for the Illegal Possession and Use of False Treasury or Banknotes and Other Instruments of Credit," it added.
SPD director BGen. Bernard Yang said the SPD will step up its campaign against counterfeiters in collaboration with other law enforcement and financing institutions, especially with the upcoming holiday season when fake money is likely to circulate.
He also reminded the public to stay vigilant when receiving and handling banknotes, whether from personal transactions or ATMs.