AMLC freezes assets of terrorist groups

The Anti-Money Laundering Council (AMLC) has frozen the bank accounts and other assets of groups designated as terrorists by the government.

In a January 13 circular, the Bangko Sentral ng Pilipinas deputy governor, Chuchi Fonacier, informed financial institutions under its supervision of the AMLC’s order freezing the assets of the Communist Party of the Philippines and its armed wing, the New People’s Army, after they were declared as terrorist groups by the Anti-Terrorism Council.