AMLC Executive Director Matthew David said the ₱125 million allocation includes funding for blockchain technology that AMLC plans to use in investigating money laundering and terrorism financing involving virtual assets.
The AMLC now plays a key role in the PNP’s anti-kidnapping task force, with the ability to trace cryptocurrency ransom payments linked to organized crime.
AMLC confirms junket firms exited PH casinos just days after being linked to laundering ₱200 million in ransom through crypto wallets and e-gaming channels.
The Philippine National Police has requested AMLC’s assistance to trace ₱200 million in crypto ransom payments linked to the kidnap-slay of steel magnate Anson Que, as two Chinese suspects remain at large.
The Anti Money Laundering Council expanded its coverage to cash conversions to poker chips & virtual currencies to cover the law against money laundering.
