AMLC probing overseas assets of current, former execs in flood control mess

The Anti-Money Laundering Council (AMLC) is now looking into the overseas assets of a high-ranking official affiliated with an independent constitutional body and a former official, both of whom have been linked to anomalous flood control projects.

AMLC Executive Director Matthew David issued the statement Thursday during an interview on Super Radyo dzBB, noting that the council has the capacity to trace assets abroad.

David responded to a question if the AMLC has started coordination with foreign counterparts to trace the overseas assets of the involved personalities.

He said, "Nasimulan na po namin itong particular individuals na subject ng FOs (freeze orders) na ito."

(We have started work with regard to particular individuals who are the subjects of these freeze orders.)
 

"'Pag nalaman namin na may property ka sa ibang bansa, pwede din ho natin i-request 'yung foreign authorities na i-freeze din po 'yun," David said.

(If we find out that you have property abroad, we can also request foreign authorities to freeze those as well.)

David said the AMLC would request information from their counterparts abroad in order to determine if the subject individual has bank accounts or assets. 

"Then after a few weeks that information will be given to us and sent to us," he said.

The AMLC recently secured freeze orders for the P3.9 billion assets of the two individuals. The freeze order covered 230 bank accounts, 15 insurance policies, two helicopters, and one airplane. — VDV, GMA Integrated News