House quad-committee (quad-comm) chairman, Surigao del Norte 2nd district Rep. Robert Ace Barbers has described as an "alarming national security threat" the reported laundering of ransom money paid in the Anson Que kidnapping case.
“This is no longer just about ransom—it’s about a vast shadow economy of crime that’s infiltrating and abusing our financial system,” Barbers said in a statement Wednesday, May 7.
The Philippine National Police (PNP) said the ransom money, alleged to reach P200 million, was routed through two junket operators—9 Dynasty Group and White Horse Club—before being dispersed across at least 10 e-wallets, many registered under false identities. The funds were later converted into cryptocurrency, making recovery and tracing efforts difficult.
One of the e-wallets used was reportedly owned by a Chinese national previously arrested for espionage, according to the Anti-Money Laundering Council (AMLC).
While direct links between the kidnapping and espionage have not been established, Barbers said the overlap is deeply concerning.
“These are not isolated incidents. Junkets and POGOs (Philippine Offshore Gaming Operators) have become channels for money laundering, kidnapping, and possibly even espionage,” Barbers said.
“What we’re dealing with is a deeply entrenched network of foreign syndicates using the Philippines as a safe haven for financial crimes,” he added.
Since August 2024, the Barbers-led quad-comm has investigated, among others, the surge of criminal operations tied to POGOs that flourished during the Duterte administration.
“It’s a toxic mix that’s endangering the safety of our people and the integrity of our financial and national security systems,” he pointed out.
Barbers warned that organized crime groups are exploiting weaknesses in the country’s digital finance infrastructure, including inadequate enforcement of know-your-customer or KYC regulations among e-wallet and virtual asset providers.
The PNP said that while authorities were able to freeze around P4.4 million in overseas accounts, most of the ransom has vanished into the crypto ecosystem.
A red notice has been issued for key suspects, including Wenli Gong, who allegedly facilitated the digital laundering of the funds.
The seasoned lawmaker urged Congress, law enforcement agencies, and financial regulators to tighten oversight of junkets, POGOs, and crypto transactions, warning that without swift reforms, the Philippines risks becoming a “haven for transnational crime"
“We must not be complacent. Our sovereignty, our national security, and the safety of our people are at stake. This is a battle we cannot afford to lose,” Barbers stressed.