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...
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...
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...
The Anti-Money Laundering Council (AMLC), in support of the Independent Commission Against Corruption (ICAC), has frozen more than ₱4 billion in assets linked to fraudulent flood control projects as the government intensifies its crackdown on corruption. The move follows the AMLC’s issuance of...
As the probe into controversial flood control projects continues, more than 800 new bank accounts have also been identified as having questionable transactions, leading authorities to add them to the growing list of frozen accounts. According to the Anti-Money Laundering Council (AMLC), it secured...
Senator Sherwin Gatchalian on Sunday, September 21 welcomed the Anti-Money Laundering Council (AMLC) for expanding its freeze orders on assets that are linked to flood control anomalies. This after the AMLC was able to secure a new freeze order from the Court of Appeals targeted at assets...
The Anti-Money Laundering Council (AMLC) has taken another step in its fight against corruption, securing a fresh freeze order to seize assets connected to the government’s flood control scandal. In a statement, AMLC Executive Director Matthew M. David said that the order, issued Friday, Sept....
The Court of Appeals (CA) has ordered the freezing of 135 bank accounts and 27 insurance policies of at least 26 Department of Public Works and Highways (DPWH) officials and contractors involved in anomalous flood control projects. In a press briefing, DPWH Secretary Vince Dizon, Anti-Money...
