Some fruit vendors at City Square were tricked into accepting fake P1000 bills during the New Year celebration, according to a report.
A senior citizen who has been selling fruits in the area for a long time was one of the victims of the counterfeit money.
She said she did not notice the fake bill because of the busy time and the crowd of customers.
She said some bearded men pretended to buy fruits from her and paid with the fake P1000 bill. They also demanded change from her, which she gave without checking the bill.
She only realized that the bill was fake when she tried to pay for it at a pawnshop. She said the bill was thinner and lighter than the genuine ones, and the serial number was different.
She reported the incident to the police, who are now investigating the source of the fake money.
The city police had warned the public, especially small business owners, to be vigilant and check the bills they receive.
The PNP said fake money may be more prevalent during the holiday season, when people spend more and transactions are faster.
Authorities advised the public to look for security features on the bills, such as the watermark, the security thread, the embossed print, and the color-shifting ink.
They also urged the public to report any suspicious bills or persons to the nearest police station.