Fact check - gov't services/laws

FALSE: Folding of new P1,000 bill incurs P20,000 fine

Rappler.com
FALSE: Folding of new P1,000 bill incurs P20,000 fine
The Bangko Sentral ng Pilipinas has not announced any fine nor penalty for folding the new P1,000 bill. It does not have the power nor responsibility to sanction individuals.
At a glance
  • Claim: Bangko Sentral ng Pilipinas (BSP) will be penalizing those who fold the new P1,000 polymer banknote with a P20,000 fine. 
  • Rating: FALSE. 
  • The facts: The BSP has not announced any fine nor penalty for folding the new P1,000 bill. According to the Manual of Regulations for Banks by the BSP, sanctions are only implemented when banks and their high-ranking officials commit major violations. 
  • Why we fact checked this: The video containing this claim has reached over 134,000 reactions, 2.4 million views, and 22,000 comments on Facebook as of writing this fact check. 
Complete details

Since July 16, a video has been circulating on Facebook containing the claim that folding the new P1,000 polymer banknote will incur a P20,000 fine from Bangko Sentral ng Pilipinas (BSP). 

As of writing, the video containing this claim has reached over 134,000 reactions, 2.4 million views, and 22,000 comments. 

This is false. 

As of July 2022, the BSP has not announced any fine nor penalty for folding the new P1,000 bill. 

According to the Manual of Regulations for Banks by the BSP, sanctions are only implemented when banks and their high-ranking officials commit major violations.

The BSP does not have the power nor the responsibility to sanction individuals. – Sofia Guanzon/Rappler.com

Keep us aware of suspicious Facebook pages, groups, accounts, websites, articles, or photos in your network by contacting us at factcheck@rappler.com. You may also report dubious claims to #FactsFirstPH tipline by messaging Rappler on Facebook or Newsbreak via Twitter direct message. You may also report through our Viber fact check chatbot. Let us battle disinformation one Fact Check at a time.

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.