Niño Jesus Orbeta
MANILA, Philippines — The Anti-Money Laundering Council (AMLC) has already begun action proceedings against banks involved in the money laundering case of dismissed Bamban, Tarlac Mayor Alice Guo (real name: Guo Hua Ping).
Senator Grace Poe made the pronouncement during the Senate plenary debates on the 2025 General Appropriations Act after Senate Deputy Minority Leader Risa Hontiveros asked about AMLC’s plans against the banks.
Article continues after this advertisementREAD: Alice Guo, over 30 more sued for money laundering
FEATURED STORIES NEWSINFO Storm Ofel gains strength; Luzon landfall forecast on Nov. 14 NEWSINFO Tropical Storm Ofel enters PAR, may reach typhoon status Nov 13 NEWSINFO ‘Count me out’ as Davao mayor, says ‘tired’ Duterte“The AMLC opened the enforcement action proceedings against those banks involved in Alice Guo’s case to determine if they have violated the requirement under AMLA (Anti-Money Laundering Act) to file STRs (suspicious transaction reports) with the AMLC,” said Poe, speaking for the AMLC during the plenary session.
“These proceedings are ongoing and should the AMLC find that they indeed violated the said requirement, the AMLC will file formal charges against said banks where they may be liable [for] fines,” she added.
Article continues after this advertisementPoe said these fines may range from P250,000 to P500,000 per transaction, but not exceeding P10 million to P20 million.
Article continues after this advertisement“This is without prejudice to their criminal liability under AMLA, if their officers are found to have knowingly facilitated a crime of money laundering,” she said.
Article continues after this advertisement Additional fundingMeanwhile, when asked by Hontiveros what assistance the AMLC would need to compel the banks to flag illegal or STRs and ensure that it can address such reports, Poe responded with needing additional funding for the agency’s artificial intelligence project and a subscription to an IT service provider.
“This is why we added additional funding under the Senate Committee Report for the Artificial Intelligence Project of AMLC to help them evaluate the great number of suspicious transactions reports that they received,” said Poe.
Article continues after this advertisementThe senator also pushed for the passage of amendments to ATLA “to ensure compliance with the Financial Action Task Force,” which serves as the standards ensuring the Philippine government can cope with money laundering risks.
Guo is currently facing 87 counts of money laundering filed by the Anti-Money Laundering Council, Presidential Anti-Organized Crime Commission, and the National Bureau of Investigation before the Department of Justice.
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Other respondents included her alleged sister Shiela Guo (real name: Zhang Mier).99bet
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