PASAY CITY, Philippines — National Bureau of Investigation (NBI) Director Melvin Matibag received a Certificate of Appreciation from the United States Secret Service (USSS) for his role in an operation that led to the seizure of approximately US$206 million worth of counterfeit US currency and financial instruments in Pasay City.
The commendation was presented on November 12, 2026, at the NBI Headquarters in Pasay City, recognizing Matibag’s contributions to the March 11 operation and the cooperation between Philippine and American law enforcement agencies.
The certificate, signed by USSS Guam Resident Office Resident Agent in Charge Amy Knowlton Baylon, acknowledged the investigative efforts that resulted in the seizure of counterfeit financial instruments.
“This recognition is not mine alone. It belongs to the men and women who worked tirelessly to make this operation successful,” Matibag said.
“Financial crimes do not stop at national borders, and neither should our efforts to hold those responsible accountable. We will continue working closely with our international counterparts to protect the public and bring offenders to justice,” he added.
The operation was conducted by the NBI Criminal Intelligence Division (CRID), in coordination with the Bangko Sentral ng Pilipinas–Payment and Currency Investigation Group (BSP-PCIG) and the US Secret Service.
According to the NBI, the operation followed months of intelligence gathering and surveillance into the alleged distribution of counterfeit US currency in Metro Manila and nearby provinces.
On March 11, NBI operatives arrested Steve Reyes, also known as Ramilo Gamboa Alvarado, during an entrapment operation at the Mall of Asia in Pasay City.
Authorities recovered counterfeit US dollar bills and assorted financial instruments, including purported US Treasury notes and Federal Reserve bonds.
Reyes was subsequently charged before the Office of the City Prosecutor of Pasay City with violating Article 168 of the Revised Penal Code, which penalizes the illegal possession and use of false treasury or bank notes and other instruments of credit.
Matibag said the recognition underscored the importance of international cooperation in combating financial crimes, particularly those involving counterfeit currency and fraudulent financial instruments.
He also reaffirmed the NBI’s commitment to strengthening its investigative capabilities and intelligence-sharing efforts with foreign law enforcement agencies.
The bureau said it would continue pursuing individuals involved in counterfeiting, fraud, and other financial offenses while ensuring that investigations
