The Office of the Ombudsman’s Special Panel of Investigators has filed a supplemental complaint-affidavit seeking to include additional respondents in its complaint involving former House Speaker Ferdinand Martin G. Romualdez and several others over alleged offenses that include plunder,...
The Bangko Sentral ng Pilipinas (BSP) ordered domestic lenders to bolster oversight of accounts connected to casino junket operators, warning that financial flows tied to the high-stakes gaming sector pose elevated money laundering risks. In a July 21 memorandum, BSP Deputy Governor Lyn Javier...
The camp of former House Speaker, Leyte 1st district Rep. Martin Romualdez has vowed to give "full answer" once the Office of the Ombudsman files its advertised charges against him. This, as Romualdez 's spokesperson, lawyer Elaine Atienza, highlighted on Monday night, July 20, no criminal...
The Office of the Ombudsman (OMB) will file two separate complaints for preliminary investigation against former House speaker Martin Romualdez, former lawmaker Elizaldy Co for alleged plunder and violations of the Anti-Money Laundering Act in connection with its investigation into alleged...
State-run Philippine Amusement and Gaming Corp. (Pagcor) has ordered all regulated casinos and gaming entities to tighten safeguards against illicit capital flows. The directive follows a state assessment which revealed that the sector remains highly vulnerable to financial crime. In a July 13...
Organized criminal syndicates have proved resilient in the face of regulatory shifts in the Philippines, reinventing their operations to avoid shutdowns after a government purge dismantled many of their once-flourishing cyber scam hubs. When the Philippines was grappling to survive through the end...
Tightened rules and stricter oversight of the gaming sector may have hampered efforts to recover revenues lost in previous quarters, but global credit rating agency S&P Global Ratings said a more supportive visa policy and the rebound in online gambling could help gaming operators bounce back in...
Around ₱500 billion is the estimated annual loss the Philippines incurs from tax evasion within the nation’s financial system, proving to be a major threat the country’s fiscal health has been grappling with. This staggering figure has placed tax crimes at the forefront of the Anti-Money...
ILOILO CITY – The Western Visayas Anti-Money Laundering and Counter-Terrorism Task Force is investigating a foreigner allegedly behind 46 fake corporations registered in Iloilo and other parts of the country. “We have an ongoing investigation into a foreigner who faked his nationality to form...
ZAMBOANGA CITY – An employee of the Bureau of Internal Revenue here who was arrested during an entrapment operation in 2022 was convicted by the Regional Trial Court of money laundering. The Regional Trial Court Branch 12 sentenced Flora Sarau Albao, Revenue Officer IV of Revenue District 93 A of...
The Bangko Sentral ng Pilipinas (BSP) stated that its governor will respond to a legal complaint once he receives an official copy of the documents, as the country’s monetary authority seeks to maintain focus on its regulatory mandate. In a statement on Monday, April 27, the central bank said BSP...
The Court of Appeals has ordered a freeze on dozens of bank accounts and properties belonging to a prominent legislator, a business associate, and a linked corporation amid an expanding investigation into anomalies in government flood-control projects. The freeze order, issued April 23, covers 25...
