THE Anti-Money Laundering Council (AMLC) received a new freeze order from the Court of Appeals (CA) bringing the total value of the frozen assets to P2.9 billion.
In a statement, the new freeze order covered a total of 836 bank accounts, 12 e-wallet accounts, 24 insurance policies, 81 motor vehicles and 12 real estate properties.
With the latest freeze order, the AMLC through the CA has frozen a total of 1,563 bank account; 54 insurance policies; 154 motor vehicles; and 30 real estate properties. The latest freeze order is the first time the AMLC included electronic wallets.
‘By freezing a wide range of assets-such as bank accounts, e-wallets, vehicles, and properties-the AMLC is disrupting the financial channels used in corrupt activities,’ said AMLC Executive Director Atty. Matthew M. David.
‘Our goal is straightforward: prevent stolen public funds from being dissipated and misused, recover them for the National Government, and ensure that those involved in money laundering are held accountable,’ he added.
The AMLC said it remains committed to transparency and accountability and is working closely with other government agencies to ensure that public funds are protected and properly used.
Earlier, David said AMLC’s petition cited corruption-related offenses, such as violation of the Anti-Graft and Corrupt Practices Act and malversation, according to David.
Under the freeze order, banks will now look into their systems and determine the amounts stored in the bank accounts, which will then be reported to the AMLC, David said.
Moreover, the freeze order is a step toward the filing of appropriate civil and criminal cases, including the retrieval of any funds moved before the freeze, against those found to have laundered illicit proceeds, David added.
The freeze order will only be lifted if the owners of the bank accounts will file a motion to lift the effects of the freeze order over their accounts or assets.