Inquirer
AMLC probes banks involved in Alice Guo’s money laundering case
The Anti-Money Laundering Council (AMLC) has initiated enforcement action proceedings against banks connected to the case of dismissed Bamban, Tarlac mayor Alice Guo.
This action aims to investigate potential violations of the requirement for banks to file Suspicious Transaction Reports (STRs) with the AMLC.
If violations are confirmed, the AMLC may impose fines ranging from P250,000 to P500,000 per transaction, with a maximum penalty of P10 million to P20 million.
These proceedings are separate from potential criminal liabilities for bank officers found to have knowingly facilitated money laundering activities.
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