Davao City, Philippines – February 20, 2025
The Bangko Sentral ng Pilipinas (BSP), in collaboration with the Davao City Chamber of Commerce and Industry, Inc. (DCCCII), successfully conducted a “Currency Familiarization and Counterfeit Detection Seminar” at the BSP Mindanao Regional Office. This significant event brought together business owners, cash handlers, and financial professionals to strengthen their knowledge of currency security and fraud prevention.

Empowering Businesses Against Financial Fraud

The seminar aimed to enhance the capability of local businesses in identifying counterfeit banknotes while promoting awareness of Philippine currency policies. BSP experts provided valuable insights and hands-on training to help participants apply best practices in their financial transactions.

Key Highlights of the Seminar:

1. Introduction to the First Philippine Polymer Banknote Series
BSP representatives introduced the advantages of polymer banknotes, emphasizing their durability, sustainability, and advanced security features designed to combat counterfeiting.

2. Counterfeit Detection Techniques
Participants underwent an in-depth training session on identifying fake currency using various security features, including watermark checks, tactile elements, and UV light verification.

3. Philippine Currency Policies
The discussion covered crucial regulations on cash handling, currency circulation, and banknote security measures to ensure compliance within the business sector.

Strengthening Financial Literacy in the Business Sector

The event was well attended by business leaders and key members of the DCCCII, highlighting the collective commitment to financial literacy and security. By equipping businesses with the right knowledge and tools, the seminar reinforced the importance of vigilance against financial fraud in Davao’s growing economy.

A Step Towards Safer Financial Transactions

As Davao continues to expand its economic landscape, initiatives like this seminar play a crucial role in protecting businesses from fraudulent activities. The partnership between BSP and DCCCII underscores a shared mission to foster a financially secure and well-informed business community.

A big thank you to Bangko Sentral ng Pilipinas and the Davao City Chamber of Commerce and Industry, Inc. for spearheading this valuable learning experience!