AMLC OKs freeze order on CPP-NPA bank accounts, assets | Inquirer News

AMLC OKs freeze order on CPP-NPA bank accounts, assets

/ 08:32 PM December 27, 2020

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.


ATC ‘designates’ CPP-NPA as terrorist organizations

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: CPP-NPA, freeze order

© Copyright 1997-2024 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.