The Philippine Securities and Exchange Commission published a statement supporting the Anti Money Laundering Council’s (AMLC) investigation into possible money laundering linked to allegedly anomalous flood control projects, following a Court of Appeals freeze order obtained by the AMLC. The freeze order, issued on 15 September, covers 135 bank accounts and 27 insurance policies connected to individuals and entities under investigation by the Senate Blue Ribbon Committee. The AMLC’s preliminary findings point to a potential scheme involving the laundering of public funds intended for flood control initiatives, and the SEC underscored its focus on corporate governance to prevent the use of corporate structures for money laundering and other illicit activities.
Philippine Securities and Exchange Commission 2025-09-18
Philippine Securities and Exchange Commission supports AMLC freeze order on 135 bank accounts and 27 insurance policies in flood control money laundering probe
The Philippine Securities and Exchange Commission supports the Anti Money Laundering Council's investigation into alleged money laundering linked to flood control projects, following a Court of Appeals freeze order on 135 bank accounts and 27 insurance policies. The AMLC's preliminary findings suggest a scheme involving laundering public funds, with the SEC emphasizing corporate governance to prevent misuse of corporate structures for illicit activities.