Anti-money laundering body reports more suspicious transactions during COVID-19 pandemic

Make sure that the online transaction platforms you're using are not also being devised by somebody else to commit fraudulent activities

The Anti-Money Laundering Council noticed a rising number in suspicious transaction reports this year in the time of COVID-19 pandemic.

Racela, however, noted that not all the STRs can be considered as related to any unlawful activity especially if the crime was not properly identified. The AMLC chief also reminded the so-called covered persons to be careful when using online transaction platforms. Racela also wanted the Congress to expand AMLC's powers which includes issuing a subpoena and invoking contempt powers.

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