The Bangko Sentral ng Pilipinas (BSP) on Tuesday, March 8, reminded all of its BSP supervised financial institutions (BSFIs) to report and coordinate with the Anti-Money Laundering Council (AMLC) any suspicious transactions following its release of 16 groups that were issued sanctions freeze orders (SFO).

media

BSP Deputy Governor Chuchi G. Fonacier, in a circular letter she signed on March 7, said BSFIs should submit to the AMLC a written return, pursuant to applicable laws and regulations and suspicious transaction report on all previous transactions of the subjects of designation within five days from effectivity of the SFO.

“Any person, whether natural or juridical, including covered persons, among others, who deals directly or indirectly, in any way and by any means, with any property or fund he knows or has reasonable ground to believe is owned or controlled by the subject of designation, including funds derived or generated from property or funds owned or controlled, directly or indirectly, by those subjects of designation; or makes available any property or funds, or financial services or other related services to the subject of designation; shall be prosecuted to the fullest extent of the law pursuant to TFPSA,” said Fonacier. The TFPSA is Republic Act No. 10168, otherwise known as the Terrorism Financing Prevention and Suppression Act of 2012.

The BSP regularly disseminate AMLC resolutions on SFOs. Last Feb. 22, the AMLC flagged down 16 groups they have identified as connected with the Communist Party of the Philippines-New People's Army-National Democratic Front (NDF), also known as the National Democratic Front of the Philippines (NDFP). The government, as per the Anti-Terrorism Council (ATC), has tagged the 16 groups as terrorists under the law and are slapped with SFOs.

Fonacier said the “freezing without delay” will apply to property or funds as per the ALMC resolution, including related accounts that “are owned or controlled by the subject of designation, and is not limited to those that are directly related or can be tied to a particular terrorist act, plot, or threat.”

She noted that SFOs are on property or funds that “are wholly or jointly owned or controlled, directly or indirectly” and are “derived or generated from funds or other assets owned or controlled, directly or indirectly” by the identified groups.

“For information and strict compliance/implementation,” Fonacier instructed BSFIs in the circular letter.

AMLC Resolution No. TF- 50, Series of 2022, and “pursuant to their designation as terrorist” by the ATC Resolution No. 28 (2022) on Jan. 26, has issued the SFOs to the following: Revolutionary Council of Trade Unions (RCTU); Katipunan ng mga Samahang Manggagawa (KASAMA) or Federation of Labor Organizations; Pambansang Katipunan ng Magbubukid (PKM) or National Association of Peasants; Malayang Kilusan ng Bagong Kababaihan (MAKIBAKA) or Patriotic Movement of New Women; Kabataang Makabayan (KM) or Patriotic Youth; Katipunan ng Gurong Makabayan (KAGUMA) or Association of Patriotic Teachers; Makabayang Samahan Pangkalusugan (MASAPA) or Patriotic Health Association; and Liga ng Agham para sa Bayan (LAB) or League of Scientists for the People.

The SFOs were also slapped on these groups: Lupon ng Manananggol para sa Bayan (LUMABAN) or Committee of Lawyers for the People; Artista at Manunulat para sa Sambayanan (ARMAS) or Artists and Writers for the People; Makabayang Kawaning Pilipino (MKP) or Patriotic Government Employees; Revolutionary Organization of Overseas Filipinos and their Families (COMPATRIOTS); Christians for National Liberation (CNL); Cordillera People’s Democratic Front (CPDF); Moro Resistance and Liberation Organization (MRLO); and Revolutionary Organization of Lumads (ROL).