The Philippines’ Anti-Money Laundering Council, or AMLC, has secured a court-issued freeze order covering more than 100 financial accounts and other assets linked to a lawmaker, as well as several individuals and entities, according to The Philippine Star. The assets are suspected to be connected to corruption, plunder, and irregularities involving flood control projects. The freeze order covers 86 bank accounts, four investment accounts, one insurance policy, and 25 virtual asset wallets. AMLC said the funds moved through multiple virtual asset service providers and several virtual asset wallets, which made tracing more difficult. The council did not disclose the identity of the lawmaker or the other parties involved.
The Philippines’ Anti-Money Laundering Council (AMLC) has obtained a court freeze order covering more than 100 financial accounts and other assets linked to a lawmaker, along with several individuals and entities, according to The Philippine Star.
The assets are suspected to be tied to corruption, plunder, and irregularities involving flood control projects. The freeze order covers 86 bank accounts, four investment accounts, one insurance policy, and 25 virtual asset wallets.
AMLC said the funds moved through multiple virtual asset service providers and several virtual asset wallets, making them harder to trace. The council did not disclose the identity of the lawmaker or the other parties involved.
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