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Home⇛International Journal of Multidisciplinary: Applied Business and Education Research⇛vol. 6 no. 1 (2025)

An Assessment on The Role of Cryptocurrency in Modern Kidnapping for Ransom Cases in Cities of Pasay and Paranaque

Marceliano A. Desamito Jr. | Leonardol O. Bautista III | Loreta R. Dela Cruz | Moises B. Garcia | Cecilio G. Tomas Jr. | Elizabeth Villa | Froilan D. Mobo

Discipline: social sciences (non-specific)

 

Abstract:

The study aimed to address the influence of cryptocurrency on contemporary kidnapping for ransom in the cities of Pasay and Parañaque as assessed by anti-kidnapping group personnel to-wards the development of a strategic proposal to combat kidnapping in the digital landscape. This research employed a quantitative-descriptive methodology, utilizing stratified random sampling as the research design to carefully select respondents from the PNP office Anti-Kidnapping Group. A total of twenty (20) survey questionnaires will be distributed to gather data on the evaluation of PNP personnel regarding the role of cryptocurrencies in contemporary kidnapping for ran-som, particularly in relation to investigation, negotiation, and operations. The study's findings indicate that: The Philippine National Police Anti-Kidnapping Group (AKG) should improve educational programs and strategies to address kidnapping for ransom. Mandatory training on proposed initiatives will be necessary for the PNP AKG. Additionally, the PNP AKG will oversee security in Pasay and Paranaque, and the BSP is actively monitoring develop-ments in virtual currency, particularly regarding their potential use in money laundering and other illicit activities, and will take appropriate action as needed. The findings emphasized that strong regulation, including the Anti-Fraudulent Activities in Financial Accounts Act (AFASA) and the suggested amendments to the Bank Secrecy Act, are essential and long overdue. The BSP and other regulatory authorities in the Philippines must actively oversee cryptocurrencies. Furthermore, the PNP AKG and ACG necessitate revised techniques to proficiently obstruct blockchain technology from enabling cross-bor-der bitcoin transactions.



References:

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  5. NAPOLCOM Resolution No. 2012-027.Office of Public   Affairs   (USDOJ)   (2024).   Foreign National Pleads Guilty to Laundering  Mil-lions in Proceeds fromCryptocurrency Investment ScamsDesamitoet al., 2025/An Assessment on The Role of Cryptocurrency in Modern Kidnapping for Ransom Cases in Cities of Pasay and ParanaqueIJMABER200Volume 6| Number 1| January| 2025
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