The Philippine Securities and Exchange Commission published a release noting that the Anti-Money Laundering Council (AMLC) has frozen more than PHP 4 billion in assets linked to allegedly fraudulent government flood-control projects, alongside a new memorandum of agreement with the Independent Commission for Infrastructure (ICI) to intensify related investigations. The AMLC secured four freeze orders covering bank accounts and properties of individuals and entities under investigation. As of 3 October, the frozen assets comprised 1,620 bank accounts, 54 insurance policies, 163 vehicles, 40 properties and 12 e-wallets. Under the 30 September agreement, the AMLC will provide operational support to the ICI in detecting and investigating money laundering and other illegal activities under Republic Act No. 9160, including information exchange and joint training on emerging money laundering and terrorism financing trends.
Philippine Securities and Exchange Commission 2025-10-08
Philippine Securities and Exchange Commission reports Anti-Money Laundering Council froze over PHP 4 billion linked to fraudulent flood-control projects and signed cooperation pact with infrastructure watchdog
The Philippine Securities and Exchange Commission reported that the Anti-Money Laundering Council (AMLC) has frozen over PHP 4 billion in assets linked to alleged fraudulent flood-control projects. The AMLC secured freeze orders on various assets and has entered a memorandum of agreement with the Independent Commission for Infrastructure to enhance investigations, including operational support, information exchange, and joint training on money laundering and terrorism financing trends.