COA: AMLC froze, forfeited P901-M 'dirty money' in 2017

Adrian Ayalin, ABS-CBN News

Posted at Apr 19 2018 09:09 PM

MANILA - The Anti-Money Laundering Council (AMLC) was able to freeze and forfeit criminal proceeds or dirty money totaling P901 million last year, according to a 2017 report of the Commission on Audit (COA). 

The report noted that the total cumulative amount of money either frozen or forfeited by AMLC since 2001 reached P8.1 billion as of end 2017. 

“Since 2001, the AMLC has been filing cases for the freeze and forfeiture of criminal proceeds, the total of which increased from P7,263.452 million in CY 2016 to P8,165.268 million in CY 2017,” the COA said.

The P8.165 billion frozen or forfeited money since 2001 includes P911,869,247 forfeited and remitted to the Philippine government, the Office of the Ombudsman, and victims of criminal activities.

The rest of the amount includes pending civil forfeiture and freeze orders, amounts subject of other forfeiture actions, amount lifted and returned to victims or investors, and amount involved in lapsed freeze order.

The COA also noted in the report that the total amount of frozen and forfeited money includes P52 million pesos recovered last year by soldiers from an area in Marawi City which was controlled by the Maute Group and the Abu Sayyaf.

“Issuance of AMLC Resolution Nos. TF-09 and TF-10 (Maute Case 2017) freeze order on all the bank accounts and other assets owned and controlled by the Maute Group including P52 million in funds recovered by Philippine troops from a Maute/Abu Sayyaf-controlled area,” the COA said.

The COA also noted that bank inquiry on bank accounts linked to Maute and Abu Sayyaf is still on-going.