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SEC backs changes to bank secrecy law

ABS-CBN News
Posted at Jun 10 04:26 PM

The Securities and Exchange Commission said Thursday it is backing amendments to the Bank Secrecy Law to help its efforts against financial crimes. Read more »

China arrests over 1,100 suspects in crackdown on crypto-related money laundering

Reuters
Posted at Jun 10 11:24 AM

Police in China arrested over 1,100 people suspected of using cryptocurrencies to launder illegal proceeds from telephone and Internet scams in a recent crackdown, the Ministry of Public Security said. Read more »

Dutch bank ABN Amro to settle money laundering probe for $574 million

Anthony Deutsch and Bart H. Meijer, Reuters
Posted at Apr 19 03:22 PM

Dutch bank ABN Amro on Monday said it had reached a 480-million-euro ($574 million) settlement with prosecutors in the Netherlands over money laundering allegations, which will impact its first-quarter results. Read more »

Chinese na wanted dahil sa money laundering timbog sa Tarlac

ABS-CBN News
Posted at Apr 17 07:37 AM

Isang Chinese na sangkot umano sa money laundering ang inaresto ng awtoridad sa Concepcion, Tarlac nitong Huwebes.   Read more »

Chinese na wanted sa money laundering timbog

ABS-CBN News
Updated as of Feb 26 05:27 AM

Hinuli ang isang dayuhang negosyante sa Nueva Ecija dahil sa pagkakadawit sa kasong money laundering.  Read more »

PNP: Police, AMLC freeze assets of allegedly ‘high-value’ drug suspect in Cebu

ABS-CBN News
Posted at Feb 19 10:54 PM

The PNP and the Anti-Money Laundering Council have implemented the Court of Appeals' freeze order on the assets of an allegedly "high-value" drug suspect arrested in Cebu, police said Friday. Read more »

PH at risk of being included in global anti-money laundering watchdog's 'gray list' again

ABS-CBN News
Posted at Feb 12 10:59 PM

A surge in the Philippines of financial crimes linked to terrorist financing reportedly puts the country at risk of being reinstated to the gray list of a global anti-money laundering watchdog. Read more »

Duterte tightens anti-money laundering rules to avoid `gray list'

Reuters
Posted at Jan 31 09:06 AM

President Rodrigo Duterte signed a law on Friday to strengthen anti-money laundering and terrorist financing regulations ahead of a Feb. 1 deadline set by a global financial watchdog. Read more »

Duterte signs measure boosting Anti-Money Laundering Law

ABS-CBN News
Updated as of Jan 29 10:28 PM

MANILA (UPDATED) — President Rodrigo Duterte on Friday signed a measure amending the Anti-Money Laundering Act (AMLA), in a bid to boost regulations on money laundering in the Philippines.  Read more »

10 domestic helpers arrested in Hong Kong over bank accounts linked to money laundering and online scams

Clifford Lo, South China Morning Post
Posted at Jan 20 01:42 PM

Ten domestic helpers and a Hong Kong resident have been arrested for receiving payment in return for opening bank accounts that were used to collect and launder millions in swindled cash.   Read more »

AMLC approves freezing of properties, funds tied to communist movement

ABS-CBN News
Posted at Dec 28 11:36 PM

The Philippines' Anti-Money Laundering Council ordered an immediate freeze on assets of groups linked to the country's communist movement. Read more »

AMLC orders freezing of property, funds tied to CPP-NPA

Mike Navallo, ABS-CBN News
Updated as of Dec 28 10:43 AM

The Anti-Money Laundering Council (AMLC) has ordered the freezing of properties and funds that may have links to the Communist Party of the Philippines (CPP) and the New People’s Army (NPA), according to Justice Secretary Menardo Guevarra. Read more »

Burner phones and banking apps: Meet the Chinese 'brokers' laundering Mexican drug money

Drazen Jorgic, Reuters
Posted at Dec 03 10:12 PM

Early next year, a Chinese businessman named Gan Xianbing will be sentenced in a Chicago courtroom for laundering just over $530,000 in Mexican cartel drug money. Read more »

House OKs on 2nd reading proposed amendments to PH anti-money laundering law

RG Cruz, ABS-CBN News
Posted at Nov 24 11:58 PM

The House of Representatives has approved on second reading the proposed amendments to the country’s anti money laundering law. Read more »

AMLC flags surge in ‘suspicious transactions’ in e-payments amid pandemic

ABS-CBN News
Posted at Nov 20 02:24 PM

The Anti-Money Laundering Council (AMLC) on Friday flagged the surge of suspicious transactions amounting to P3.1 billion as more consumers shift to digital banking due to quarantine restrictions brought by the COVID-19 pandemic.   Read more »

2 men caught leaving London for Dubai with cash-filled suitcases

Reuters
Posted at Nov 13 11:24 PM

LONDON - Two Czech nationals caught at London's Heathrow airport bound for Dubai with 1.2 million pounds ($1.58 million) in their suitcases have been charged with money laundering, the British government said on Friday.   Read more »

Bolsonaro's eldest son, a senator, faces graft, money laundering charges

Ernesto Londoño, The New York Times
Posted at Nov 05 07:07 AM

Investigators say that the president’s son ran a scheme known as rachadinha, in which elected officials pocket part of the salary of legislative aides who accept employment on the condition of kicking back part of their pay. The tactic is common in the lower rungs of politics in Brazil. Read more »

Australia's Westpac underwrites dividend payout as cash earnings plunge

Paulina Duran, Reuters
Posted at Nov 02 11:45 AM

Westpac Banking Corp said on Monday it would resume paying dividends as it reported a 62 percent plunge in cash earnings due to write-downs, lower margins and a record fine over a money-laundering case. Read more »

Senators oppose proposal to include real estate developers, brokers under AMLC's watch

Davinci Maru, ABS-CBN News
Posted at Oct 28 06:09 PM

A proposal to include real estate developers and brokers in the list of covered institutions and persons of the Anti-Money Laundering Council (AMLC) was met with opposition Wednesday, with some senators saying it’s putting additional burden to an overly regulated industry. Read more »

Duterte certifies as urgent bills boosting anti-money laundering law, financial resiliency amid COVID-19 crisis

Aleta Nieva Nishimori, ABS-CBN News
Posted at Oct 17 09:52 AM

MANILA - President Rodrigo Duterte on Friday certified as urgent the passage of two more bills that strengthens the Anti-Money Laundering law and ensuring the continued resiliency of the Philippine financial industry amid the pandemic. Read more »