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Manila Bulletin devider Philippines devider National devider Lacson files bill strengthening, expanding AMLC's powers to counter evolving corruption schemes

Lacson files bill strengthening, expanding AMLC's powers to counter evolving corruption schemes

Published Nov 27, 2025 09:51 am

At A Glance

  • Senate President Pro Tempore Panfilo "Ping" Lacson has filed a measure seeking to give the Anti-Money Laundering Council (AMLC) additional powers and widening the scope of covered persons involved in financial crimes and updating the list of predicate offenses to money laundering.


Senate President Pro Tempore Panfilo “Ping” Lacson has filed a measure seeking to give the Anti-Money Laundering Council (AMLC) additional powers and widening the scope of covered persons involved in financial crimes and updating the list of predicate offenses to money laundering.

Senate President Pro Tempore Panfilo
Senate President Pro Tempore Panfilo "Ping" Lacson (Facebook)

Lacson said filing Senate Bill No. 1557 was in response to the complex financial crimes that were exposed in the Senate Blue Ribbon Committee’s investigation into the corruption behind anomalous flood control projects.

“Recent corruption issues have highlighted the complexities of financial crimes. Updating the AMLA to meet the requirements of the times would also prevent us from being placed in the FATF (Financial Action Task Force) Greylist again,” Lacson said in his bill.

Lacson further noted that the Philippines will again be subjected to the FATF's fifth round of global mutual evaluations in 2027.

The Senate blue ribbon committee chief also said SB No. 1557 primarily seeks to introduce the following amendments to the Anti-Money Laundering Act:

1. Designate trusts and virtual asset service providers as covered persons;
2. Clarify that the threshold for jewelry dealers and dealers in precious metals and stones pertains to covered transaction reports;
3. Inclusion of the respective definitions of transactional and continuing violation of any applicable law or regulation issued by the AMLC or its authorized officer;
4. Update and expand the list of offenses as predicate offenses to money laundering;
5. Set the threshold for conducting customer due diligence by casinos to P150,000, equivalent to the FATF-prescribed threshold of US$3,000 - with a system of verifying the true identity of their clients;
6. Authorize the AMLC to issue a non-court-based subpoena instead of the current court-based one;
7. Authorize the AMLC to file petitions for freeze order and civil forfeiture directly or through the Office of the Solicitor General;
8. Improve the efficiency of the AMLC in conducting bank inquiries without a court order, similar to the AMLC's current power to conduct non-court-based bank inquiries in cases related to kidnapping, illegal drug crimes, terrorism, terrorism financing, arson and murder;
9. Authorize the AMLC to visit and inspect covered persons to ensure compliance with the AMLC to strengthen the AMLC's risk-based supervision;
10. Authorize the AMLC to administer oaths or affirmations in discharging its mandate;
11. Strengthen AMLC's quasi-judicial functions in handling administrative cases, to support the AMLC's risk-based supervision;
12. Authority to indemnify the AMLC or its staff against costs incurred in "harassment suits";
13. Expanding the coverage of Information Security and Confidentiality Provision against the AMLC and its staff to include all other persons to whom AMLC information was allowed to be shared, to ensure accountability to anyone who gets information from the AMLC;
14. General prohibition against the issuance of injunctive relief against the discharge of AMLC's functions, except by the Court of Appeals and Supreme Court; and
15. Expanding the authority of the AMLC to suspend transactions as a preemptive measure to let the AMLC and covered persons to hold off any transaction suspected of being related to money laundering, terrorism financing, or any other unlawful activity.

SB No. 1557 also seeks to boost the AMLC's role as the country's independent central anti-money laundering and counter-terrorism financing authority.

Under the bill, AMLC shall function as the financial intelligence unit, specialized money laundering and terrorism financing investigation agency, and anti-money laundering and counter-terrorism financing regulator and supervisor of the Philippines.

Moreover, the bill also expands the list of covered persons to include those buying and selling real estate; and lawyers and accountants of covered persons; online gambling operators regardless of their license classification; and virtual asset service providers.

It also expands the list of predicate offenses covered by the AMLA to include, among others, terrorism, conspiracy to commit terrorism, and providing material support to terrorists; violation of the Anti-Online Sexual Abuse or Exploitation of Children, and Child Sexual Abuse or Exploitation Materials; violation of the Cybercrime Prevention Act of 2012; violation of the Anti-Dummy Act; and violation of the Anti-Agricultural Economic Sabotage Act.

Related Tags

Ping Lacson money laundering AMLC Anti-Money Laundering Council (AMLC) flood control
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