AMLC issues freeze order on NDF assets, funds

The Anti-Money Laundering Council (AMLC) has issued a freeze order against the properties, funds, and other accounts connected to the National Democratic Front (NDF) after the government designated the group as a terrorist organization over its links to communist insurgents.

In a notice posted on its website, the AMLC said it issued Resolution No. TF-42, series of 2021, “directing the issuance of Sanctions Freeze Order to take effect immediately against the National Democratic Front (NDF), also known as the National Democratic Front of the Philippines (NDFP), pursuant to its designation as terrorist by the Anti-Terrorism Council (ATC) Resolution No. 21 (2021) dated 23 June 2021.”

The ATC, in a resolution dated June 23, said that the NDF was “an integral and inseparable part” of the Communist Party of the Philippines-New People’s Army (CPP-NPA), which were designated as terror groups last December. 

The designation would trigger the government’s authority to freeze assets of the NDF, which was established in April 1973.

With this, the AMLC ordered the freezing without delay of property or funds, including related accounts connected directly or indirectly to the NDF.

Covered by the freeze order are property or funds that are owned or controlled by the NDF and “is not limited to those that are directly related or can be tied to a particular terrorist act, plot, or threat.”

Also covered are “property or funds that are wholly or jointly owned or controlled, directly or indirectly, by the NDF, also known as the NDFP.”

Property or funds derived or generated from funds or other assets owned or controlled, directly or indirectly; and property or funds of persons and entities acting on behalf or at the direction of the NDF are also covered by the AMLC order.

The anti-dirty money body also warned that any person, whether natural or juridical, including covered persons, private companies, government owned and controlled corporations, and government agencies and instrumentalies “shall be prosecuted to the fullest extend of the law” pursuant to the Terrorism Financing Prevention and Suppression Act of 2012 (TFPSA) if found:

• dealing directly or indirectly, in any way and by any means, with any property or fund that he knows or has reasonable ground to believe is owned or controlled by the NDF, also known as the NDFP, including funds derived or generated from property or funds owned or controlled, directly or indirectly, by the NDF
• making  available any property or funds, or financial services or other related services to the NDF

“All persons, organizations, associations or groups of persons whose property or funds are frozen, including related accounts are hereby informed that they may avail of the remedies under Republic Act No. 11479, otherwise known as Anti-Terrorism Act of 2020, and its Implementing Rules and Regulations and under the TFPSA and its Implementing Rules and Regulations,” the AMLC said.

The ATC, likewise, said a request for delisting may be filed before the ATC within 15 days from publication of the designation. —NB, GMA News