The Bangko Sentral ng Pilipinas on Tuesday, March 8, reminded all of its BSP supervised financial institutions to report and coordinate with the Anti-Money Laundering Council.
The Bangko Sentral ng Pilipinas on Tuesday, March 8, reminded all of its BSP supervised financial institutions to report and coordinate with the Anti-Money Laundering Council any suspicious transactions following its release of 16 groups that were issued sanctions freeze orders .BSP Deputy Governor Chuchi G.
The BSP regularly disseminate AMLC resolutions on SFOs. Last Feb. 22, the AMLC flagged down 16 groups they have identified as connected with the Communist Party of the Philippines-New People’s Army-National Democratic Front , also known as the National Democratic Front of the Philippines . The government, as per the Anti-Terrorism Council , has tagged the 16 groups as terrorists under the law and are slapped with SFOs.
She noted that SFOs are on property or funds that “are wholly or jointly owned or controlled, directly or indirectly” and are “derived or generated from funds or other assets owned or controlled, directly or indirectly” by the identified groups.