The Bangko Sentral ng Pilipinas (BSP) took action on January 23, 2020, after discovering a fraudulent Facebook page that was using the central bank’s name and posting images of Philippine banknotes. The BSP reported the page to Facebook and requested its removal.
The fake account operated under the name “Bangko Sentral ng Pilipinas,” directly mimicking the official identity of the country’s monetary authority. According to the BSP, the banknote images posted on the page were “inconsistent with the features of genuine Philippine banknotes.” The designs were visibly different from legitimate currency, making the forgery apparent to those familiar with Philippine money. This incident marks the second time in two weeks that the BSP has dealt with impersonation on social media.
On January 10, 2020, the bank issued a public warning about a fake Instagram account named “bangko_sentral_lottery,” which carried the BSP logo. The bank advised the public not to share personal information or conduct transactions through that account.
The central bank now faces challenges on two fronts: safeguarding the integrity of the national currency and protecting its own digital identity. Social media platforms allow fraudulent pages to reach large audiences quickly, often before the real institution can respond. The BSP’s takedown process takes time, during which scams can spread.
To help the public identify legitimate communications, the BSP has provided its official social media accounts. The verified Facebook page is https://www.facebook.com/BangkoSentralngPilipinas/.
The official Instagram account is https://www.instagram.com/bangkosentral/. The verified Twitter handle is @BangkoSentral. The bank stated that these are the only channels where the public should seek official announcements.
Governor Benjamin Diokno stated that the BSP is committed to protecting the public, though he did not outline a broader strategy to address the ongoing issue of impersonation. The bank’s current approach is reactive, reporting fake accounts after they appear rather than preventing them proactively.
The central bank has not indicated whether it has systems in place to detect impersonator accounts before they begin spreading false information. This leaves much of the responsibility with the public. The BSP advises people to follow only verified accounts, avoid engaging with suspicious pages, and refrain from sharing information from unconfirmed sources.
While the fake banknote images should no longer be accessible if Facebook acted on the BSP’s request, the underlying problem remains. New impersonator accounts can emerge at any time, and the bank’s ability to respond is limited to reporting them one by one.
The BSP has acknowledged this ongoing risk, and the public is urged to remain vigilant.
