We had to build the case - AMLC

Defends freeze order on flood control funds

- KEISHA TA-ASAN

The Anti-Money Laundering Council (AMLC) defended the timing of its freeze order on bank accounts tied to anomalous flood-control projects, saying it first had to build a solid case before bringing the matter to the Court of Appeals.

AMLC executive director Matthew David told The STAR that the financial intelligence unit filed the petition for a freeze order only after establishing solid evidence of corruption.

“We first analyze hundreds of reports — covered and suspicious transaction reports — from banks and other financial entities to produce a financial intelligence report,” he said.

“This report then triggers a formal investigation, which may lead to the filing of cases, freeze order, civil forfeiture, or criminal charges for money laundering.”

David stressed that the case was “complex, involving multiple accounts and individuals,” requiring the council to show the Court of Appeals that the assets were indeed connected to unlawful activities.

“We had to present solid evidence to the Court of Appeals to prove that these assets are related to the unlawful activity of corruption,” he said.