AMLC freeze order out on terror groups’ accounts, assets — BSP

From the Manila Times (Jan 15, 2021): AMLC freeze order out on terror groups’ accounts, assets — BSP (By Mayvelin U. Caraballo)

THE Bangko Sentral ng Pilipinas (BSP) has circulated to its supervised financial institutions (BSFIs) an Anti-Money Laundering Council’s (AMLC) freeze order on bank accounts and other assets of groups designated as terrorists.

In a circular signed on Jan. 13, 2021, BSP Deputy Governor Chuchi Fonacier, informed BSFIs that the AMLC had approved a Sanctions Freeze Order (SFO) against the Communist Party of the Philippines and the New People’s Army, also known as Bagong Hukbong Bayan, pursuant to its designation as a terrorist organization or group of persons by the Anti- Terrorism Council.

Bearing the same designation, the AMLC order was also imposed on Islamic State in Iraq and Syria in South-East Asia; Dawlatul Islamiyah Waliyatul Masrik; Dawlatul Islamiyyah Waliyatul Mashriq; IS East Asia Division; Maute Group; Islamic State East Asia; Maute ISIS; Grupong ISIS; Grupo ISIS; Khilafah Islamiyah; Khilafah Islamiyah Mindanao; Ansharul Khilafah; Bangsamoro Islamic Freedom Fighters-Bungo; Bangsamoro Islamic Freedom Fighters-Abubakar; Jama’atu al-Muhajirin wal Ansar fil Filibin; Daulah Islamiyah; and other Daesh-affiliated groups in the Philippines.

Following the SFOs, Fonacier said BSFIs are directed to submit to the AMLC a written return, pursuant to, and containing the details required under, Rule 16.c of the Implementing Rules and Regulations of the Terrorism Financing and Prevention Act of 2012.

They should also submit Suspicious Transaction Reports on all previous transactions of the designated persons, organizations, associations or groups of persons, within five days from receipt of the AMLC order.

https://www.manilatimes.net/2021/01/15/second-headline/amlc-freeze-order-out-on-terror-groups-accounts-assets-bsp/828002/