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AMLC says PHL unlikely to return to ‘gray list’
The Anti-Money Laundering Council (AMLC) assures that the Philippines faces no risk of returning to the Financial Action Task Force (FATF) gray list, despite ongoing corruption allegations involving infrastructure projects.
AMLC Executive Director Matthew David stated that the agency is actively enhancing its capabilities to detect, investigate, and prosecute money laundering cases, which are crucial for the upcoming 2027 FATF mutual evaluation.
David confirmed that the AMLC has received suspicious and covered transaction reports related to the corruption allegations.
These allegations surfaced during congressional hearings where former Department of Public Works and Highways (DPWH) officials testified about contractors linked to the flood control program potentially moving large sums of cash, raising fears of public funds being laundered.
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Various groups, including students and religious leaders, are organizing nationwide protests against corruption on September 21.
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Following a request from the Department of Public Works and Highways (DPWH), the Anti-Money Laundering Council (AMLC) and the Bangko Sentral ng Pilipinas (BSP) have moved to freeze assets of officials and contractors implicated in alleged flood-control project anomalies.
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The Anti-Money Laundering Council (AMLC) is investigating Department of Public Works and Highways (DPWH) officials suspected of using casinos to launder billions of pesos in public funds, particularly from anomalous flood control projects.
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Senate President Pro Tempore Panfilo "Ping" M. Lacson has pledged to help augment the "crumb-sized" budget of the Anti-Money Laundering Council (AMLC) and other key regulatory bodies for 2026.
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President Ferdinand "Bongbong" Marcos Jr. created the Independent Commission for Infrastructure (ICI) via Executive Order 94 on September 11, 2025, to investigate alleged corruption in public works, particularly in flood control projects.
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