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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 »

Australia’s Westpac to pay record fine for money laundering

Agence France-Presse
Updated as of Sep 24 08:42 AM

Australia's Westpac bank has agreed to pay a record AU$1.3 billion (US$923 million) fine for more than 23 million breaches of money-laundering laws, the bank and regulators announced Thursday. Read more »

PH money remitters flagged in millions of dollars in ‘suspicious’ transactions

Karol Ilagan, Philippine Center for Investigative Journalism
Updated as of Sep 21 02:59 PM

In this collaboration with more than 400 journalists in 88 countries, PCIJ examines the Filipino subjects in the FinCEN Files and why the Philippines continues to attract financial crime. Read more »

Major banks moved vast sums of illicit money: ICIJ

Agence France-Presse
Posted at Sep 21 01:43 PM

Massive sums of allegedly dirty money have flowed for years through some of the world's largest banking institutions, said an international journalism investigation published Sunday, which denounced shortcomings in sector regulations. Read more »

Philippines seeks Germany help in Wirecard probe

Agence France-Presse
Posted at Sep 12 03:28 AM

MANILA - A top Philippine financial investigator said Friday he has asked Berlin authorities for information on dozens of "persons of interest" in a Manila inquiry on the Wirecard accounting scandal. Read more »

Public urged to be vigilant as online suspicious transactions rise

Warren de Guzman, ABS-CBN News
Posted at Sep 11 03:57 PM

Reported suspicious online transactions increased this year, the Anti-Money Laundering Council said Friday, as it reminded the public to be vigilant while doing digital financial transactions.   Read more »

4 Nigerians arrested for allegedly hacking, siphoning funds from PH bank

ABS-CBN News
Posted at Sep 08 05:16 PM

The National Bureau of Investigations on Tuesday arrested 4 Nigerian nationals alleged involved in an international syndicate that hacks and siphons funds from banks. Read more »

Finance Dept, AMLC ink deal to strengthen fight vs money laundering, terrorism financing

ABS-CBN News
Posted at Sep 03 03:09 PM

The Department of Finance said Thursday it signed a deal with the Anti-Money Laundering Council to reinforce the fight against money laundering and terrorism financing. Read more »

AMLC urged to look into bank accounts of PhilHealth officials

ABS-CBN News
Posted at Aug 12 10:22 PM

Some officials of state insurer PhilHealth agreed to open their bank accounts to be examined by the Anti-Money Laundering Council.  Read more »

German ministers in hot seat over Wirecard collapse

Michelle Fitzpatrick, Agence France-Presse
Posted at Jul 30 09:44 AM

German Finance Minister Olaf Scholz on Wednesday said he gave lawmakers a "detailed" explanation of everything he knew about the fraud scandal that brought down payments firm Wirecard, amid criticism that authorities missed early warning signs of trouble. Read more »