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Shutting down AMLC to have dire implications, official says
Senator Richard Gordon urged President Rodrigo Duterte to abolish the Anti-Money Laundering Council (AMLC) due to alleged inefficiency in monitoring and apprehending individuals who brought approximately $633 million into the country.
Gordon criticized the AMLC's inaction on suspicious activities reported by the Bureau of Customs, calling it economic sabotage.
AMLC Secretariat Executive Director Mel Georgia Racela stated that abolishing the agency would have dire implications, potentially returning the Philippines to the list of Non-Cooperative Countries and Territories.
Racela cited Article 19 of the Civil Code, emphasizing the need to act with justice, give everyone their due, and observe honesty and good faith in the performance of duties.
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Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno expressed optimism that amendments to the Anti-Money Laundering Act (AMLA) and the Human Security Act (HSA) will be passed before October to prevent the Philippines from being placed on the FATF gray list.
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Senator Panfilo Lacson is urging Congress to address loopholes in Philippine laws, particularly the Bank Secrecy Law and the Anti-Money Laundering Act, to combat the illicit entry of substantial amounts of money into the country by tourists.
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Senator Richard Gordon is questioning the Anti-Money Laundering Council's (AMLC) silence regarding issues surrounding Philippine Offshore Gaming Operators (POGOs).
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The Department of Justice (DOJ) is coordinating with the Anti-Money Laundering Council (AMLC) to investigate alleged money laundering activities possibly involving Philippine Offshore Gaming Operators (POGOs).
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