IKOT.PH
Senator Win Gatchalian vowed to intensify inquiry into the possible involvement of banks and other financial institutions in money laundering cases linked to illegal activities of Philippine Offshore Gaming Operators (POGOs). For instance, Gatchalian questioned why banks failed to flag P7 billion in transactions that enabled former Mayor Alice Guo and her cohorts to build […]
Senate Minority Floor Leader Koko Pimentel III has called on the Anti-Money Laundering Council (AMLC) to strengthen its capabilities in combating large-scale money laundering operations in the country. During a plenary debate yesterday in the Senate regarding the proposed national budget for 2025, Pimentel criticized the AMLC for focusing on smaller cases while larger transactions […]
Senator Grace Poe asked the Anti-Money Laundering Council (AMLC) to give the Senate a written report on the efforts and challenges it is facing in a bid to strike the Philippines off the Financial Action Task Force’s (FATF) grey list. “We expect a substantial update from the AMLC on the concrete steps and direction we […]
Senator Dick Gordon, Chairman of the Senate Blue Ribbon Committee, slammed the Anti-Money Laundering Council (AMLC) for not acting promptly on the Bureau of Customs’ (BoC) report that a certain individual was caught for non-declaration of $700,000 money in cash in 2019. Gordon stressed that since the BoC has already notified AMLC, the latter should […]
Senator Dick Gordon has revealed information that link Philippine Offshore Gaming Operators (POGO) now operating in the country to money laundering activities. Gordon pointed out that inordinate and suspiciously large amount of foreign currency–$470-million brought in by 47 individuals from September 2019 to February 2020 alone — without being flagged is an apparent money laundering […]