In a stunning anti-counterfeiting strike that shook the underground financial network, operatives of the National Bureau of Investigation – Criminal Intelligence Division (NBI-CRID) smashed a massive fake currency operation and seized a jaw-dropping ₱12 billion worth of counterfeit U.S. dollars and Treasury instruments during a precision operation in Pasay City.

At the center of the crackdown is NBI Director Atty. Melvin A. Matibag, whose aggressive anti-crime drive continues to send a clear message to organized criminal syndicates: the NBI is watching, and the hammer will fall.

After a three-month intelligence build-up, NBI-CRID agents patiently tracked the suspect’s operations through surveillance, monitoring, and a series of carefully executed test-buy operations. These undercover transactions exposed the suspect’s deep involvement in the manufacturing and distribution of fake U.S. currency.

Operatives eventually managed to purchase three bundles of counterfeit U.S. dollars, confirming the scale of the illegal operation.

But the NBI was just getting started.

The decisive blow came during a final sting operation inside a Pasay City mall, where agents closed in on the suspect during a scheduled payout. The moment the suspect accepted the marked money, NBI operatives moved in and arrested him in flagrante delicto.

The raid produced an astonishing haul: counterfeit U.S. Treasury bills and fake banknotes with a total estimated value of ₱12 billion—one of the largest counterfeit currency seizures in recent years.

Financial experts from the Bangko Sentral ng Pilipinas (BSP) joined the operation to assist in verifying and analyzing the seized materials, confirming the sophistication and dangerous scale of the counterfeit scheme.

For Director Matibag, the operation highlights the strength of coordination between financial authorities and law enforcement.

“The seizure of a staggering ₱12 billion in counterfeit U.S. currency is a testament to the precision of intelligence-sharing with the Bangko Sentral ng Pilipinas,” Matibag declared.

“This operation is not merely an arrest—it is a decisive blow against a multi-billion peso threat to our financial integrity. We remain relentless in dismantling these syndicates and protecting the public from massive-scale deceit.”

Sources inside the Bureau say the operation also sends a powerful signal: the NBI under Matibag is intensifying its campaign against financial crimes that threaten both the Philippine economy and international monetary systems.

The arrested suspect is now facing inquest proceedings before the Pasay City Prosecutor’s Office for violation of Article 168 of the Revised Penal Code—Illegal Possession and Use of False Treasury or Bank Notes and Other Instruments of Credit.

For the NBI-CRID operatives who spent months building the case, the operation is more than just a bust.

It is proof that precision intelligence, patience, and decisive action can dismantle even the most ambitious criminal schemes.

And as Director Matibag made clear, this is only the beginning.

The hunt for the rest of the counterfeit network is now underway.

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