The Anti-Money Laundering Council (AMLC), the Philippine financial intelligence unit, has begun searching for its next executive director as Matthew David prepares to step down and seek another position within the Bangko Sentral ng Pilipinas (BSP). David led several asset freezes and seizures...
ILOILO CITY — A task force has been launched to fight money laundering and terrorism financing in Western Visayas region. Law enforcement and intelligence units banded together to create the Western Visayas Anti-Money Laundering and Counter-Terrorism Task Force in line with a memorandum issued by...
Senator Joel Villanueva has filed a measure that seeks to amend and further boost Republic Act No. 9160 or the Anti-Money Laundering Act (AMLA) to combat financial crimes and protect the integrity of the financial system. Under Senate Bill No. 1983, Villanueva seeks to give more teeth to the...
The Philippine National Police (PNP) on Friday, Feb. 20, expressed full support for President Marcos Jr.’s directed for government agencies to craft a national strategy to combat money laundering and terrorism financing as part of the administration’s intensified campaign against financial...
A money lender was killed and his body dumped in a creek in Barangay Casat, Bayombong, Nueva Vizcaya. Police Major Fernando Bag-ayan Jr., chief of the Bayombong Municipal Police Station, identified the victim as Jay Lopez, of Cauayan City, Isabela, and temporarily staying in Solano, Nueva Vizcaya....
A measure in the Senate seeks to offer bigger, fairer, and more rational rewards for informants who would expose large-scale violators of the country’s tax and customs laws. Senator Jinggoy Estrada, who filed Senate Bill No. 1011, said that it aims to strengthen the fight against tax fraudsters...
Senator Jinggoy Ejercito Estrada has filed a measure seeking to relax some restrictions under the Bank Secrecy Law to allow the Bangko Sentral ng Pilipinas (BSP) to examine bank deposits that could be linked to fraudulent activities. In filing Senate Bill No. 1047, Estrada primarily sought to...
Maharlika Investment Corp.’s (MIC) ₱19.7-billion acquisition play for a 20 percent stake in Synergy Grid and Development Philippines Inc. (SGP), the holding gateway to transmission firm National Grid Corporation of the Philippines (NGCP), failed to close on the original schedule. This failure...
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. Lacson said...
Tycoon Manuel V. Pangilinan is not ruling out plans to revive Smart Money, a pioneer in the mobile wallet space, despite the executive leading its comeback having since stepped down. Pangilinan, chairman and chief executive officer (CEO) of Smart Communications Inc., said the company still...
Philippine financial intelligence unit Anti-Money Laundering Council (AMLC) has so far frozen nearly 2,000 bank accounts and assets valued at around ₱5.2 billion, while a bank inquiry into possible signs of money laundering remains ongoing. “As of this morning [Oct. 23], the total value of...
ZAMBOANGA CITY – A 79-year-old businesswoman was robbed and stabbed to death inside her house in Barangay Vitali here on Thursday, Oct. 16. Police identified the victim as Asuncion Pajarito. Initial investigation showed that the suspects forcibly entered the victim 's residence and robbed...
