AMLC OKs freeze order on CPP-NPA bank accounts, assets
MANILA, Philippines–The Anti-Money Laundering Council (AMLC) has approved a freeze order on bank accounts and other assets of the Communist Party of the Philippines (CPP) and its armed wing, the New People’s Army (NPA) Justice Secretary Menardo Guevarra said Sunday.
“Per ED (Executive Director) (Mel) Racela, the AMLC approved its freeze order against the CPP-NPA and other designated terrorist groups last Dec. 23,” Guevarra told reporters.
“The AMLC can already move in the premises at any time after due designation by the ATC,” he added.
The freeze order followed after the CPP-NPA was classified as terrorists by the Anti-Terrorism Council (ATC).
But Guevarra did not divulge the details on the freeze order—what bank accounts, how many bank accounts, amount of deposits, and other assets are covered.
The Justice Secretary is part of the ATC. He is the chair of the technical working group that crafted the Anti-Terror Law’s Implementing Rules and Regulations.
Under the Anti-Terrorism Act, the AMLC has the authority to issue a 20-day freeze order on bank accounts and assets of individuals or groups suspected of committing or supporting terroristic activities.
The law allows the AMLC to examine the bank accounts of persons and groups identified as terrorists.
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