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The Anti-Money Laundering Council (AMLC) approved an order freezing accounts related to the Communist Party of the Philippines (CPP) and its armed wing, the New People’s Army (NPA), the Department of Justice (DOJ) said on Sunday.
The Secretary of Justice, Menardo Guevarra, said that the AMLC approved the freezing order on Wednesday, December 23, 2020, after the group was designated as a terrorist organization by the Antiterrorist Council through a resolution of December 9.
“The AMLC can now move into the facilities at any time after proper designation by ATC,” Guevarra said in a message to journalists.
For his part, AMLC executive director Mel Georgie Racela clarified that the freezing order covers the related accounts of the CPP-NPA, or those opened and maintained for the benefit of the group, since there are no accounts under the CPP / NPA.
“These legal provisions are intended to preemptively deprive designated terrorist organizations of resources to prevent possible terrorist attacks,” he explained in a separate message.
The AMLC is mandated to investigate money laundering and other violations of the Anti-Money Laundering Act of 2001 to protect the integrity and confidentiality of bank accounts and to ensure that the Philippines is not used as a money laundering site for the proceeds of illicit activities. exercise. – DVM, GMA News
