BSP, PNP, DILG, and GCash Leads to Arrest of Counterfeiting Suspect

 

In a collaborative effort, the Bangko Sentral ng Pilipinas (BSP), the Philippine National Police (PNP), and the Department of Interior and Local Government, supported by GCash, recently apprehended a man involved in counterfeiting money. The suspect, Jason Bendejo Bañaria, was found selling money bouquets made of counterfeit bank notes. He was caught possessing 300 pieces each of PHP 1,000.00 and PHP 500.00 counterfeit bills.

 

Bañaria now faces charges for violating BSP Circular Number 829, Series of 2014, in relation to Sec. 50 of RA 7653, PD 1602 (Counterfeit bank notes), and Illegal Possession and Use of False Treasury or Bank Notes and Other Instrument of Credit under Art. 168 of the Revised Penal Code.

Counterfeiting Philippine currency carries a penalty of imprisonment for up to 20 years and a day. The BSP has proposed extending this jail term to deter counterfeiting. Under existing law (Republic Act No 10951), the maximum fine for this crime is PHP 2 million, a significant increase from the previous P10,000 before the law’s enactment in 2017. The BSP urges the public to report any information on currency counterfeiting to law enforcement authorities and to be vigilant against fraudulent emails or text messages that lead to suspicious websites.

GCash, the country’s leading finance super app and a pioneer in secure finance, maintains active partnerships with authorities and regulatory bodies such as the BSP, PNP, NBI, and the National Privacy Commission to safeguard consumers from fraud. Furthermore, GCash has entered into an agreement with the Anti-Money Laundering Council (AMLC), ensuring it upholds the highest standards of anti-money laundering, counter-terrorism financing, and fraud measures.

For assistance on reporting counterfeiting, send information to pcig@bsp.gov.ph or call 02 8988-4833 or 02 8926-5092.

To report scams and fraudulent activities, visit the official GCash Help Center in the app or at the website help.gcash.com/hc, message Gigi, and type, “I want to report a scam.”

GCash assures users that it will never send personal messages to address concerns or request personal information, especially the MPIN and One-time Pin (OTP). Customers can also contact the official GCash hotline at 2882 for queries and other concerns.

For more information, visit the GCash website.

FAQs

1. Who is Jason Bendejo Bañaria? Jason Bendejo Bañaria is a suspect who was recently arrested for using counterfeit money to sell fake money bouquets.

2. What charges does Bañaria face? Bañaria is charged with violation of BSP Circular Number 829, Series of 2014 in relation to Sec. 50 of RA 7653, PD 1602 (Counterfeit bank notes), and Illegal Possession and Use of False Treasury or Bank Notes and Other Instrument of Credit under Art. 168 of the Revised Penal Code.

3. What is the penalty for counterfeiting Philippine currency? Counterfeiting Philippine currency is punishable by a jail sentence of up to 20 years and a day, and a maximum fine of PHP 2 million under Republic Act No 10951.

4. How can I report counterfeiting or fraudulent activities? To report counterfeiting, you can send information to pcig@bsp.gov.ph or call 02 8988-4833 or 02 8926-5092. To report scams and fraudulent activities, you can visit the official GCash Help Center in the app or at the website help.gcash.com/hc, message Gigi, and type, “I want to report a scam.”

5. What measures does GCash take to protect consumers from fraud? GCash maintains active partnerships with authorities and regulatory bodies such as the BSP, PNP, NBI, and the National Privacy Commission. It also has an agreement with the Anti-Money Laundering Council (AMLC), ensuring it upholds the highest standards of anti-money laundering, counter-terrorism financing, and fraud measures.