File photo from the Senate of the Philippines
Sen. Panfilo Lacson files a bill to expand the AMLC’s authority as investigators freeze more assets tied to alleged flood-control corruption.
MANILA — Senate President Pro Tempore Panfilo “Ping” Lacson is seeking expanded powers for the Anti-Money Laundering Council (AMLC) as the government confronts mounting corruption allegations tied to ghost and substandard flood-control projects.
Lacson filed Senate Bill 1557, which would broaden the categories of covered persons, widen the range of predicate offenses, and give the AMLC stronger tools to trace and stop illicit financial flows. The bill proposes adding trusts, real estate transactions, virtual asset service providers, online gaming operators, and certain professional service providers to the entities regulated under anti–money laundering rules.
The measure authorizes non-court subpoenas, strengthens the AMLC’s ability to inspect covered institutions, and allows the council to initiate petitions for freeze orders and civil forfeiture. It also seeks to expand non-court bank inquiries and grant the AMLC authority to suspend suspicious transactions in urgent cases.
Lacson said the country must close gaps in the anti–money laundering framework as investigators continue to uncover financial schemes used to move public funds through casinos and other channels. He warned that insufficient safeguards could place the Philippines at risk of another Financial Action Task Force gray-listing ahead of the next mutual evaluation cycle.
The move comes as the AMLC reports a sharp rise in asset freezes connected to the ongoing flood-control investigation involving public works officials and contractors. Recent disclosures from the council show that frozen assets linked to the probe have reached more than ₱11 billion, including bank accounts, real estate, vehicles and insurance-linked investments.
Lacson said the proposed reforms would help ensure that the AMLC functions as the country’s central financial intelligence unit with the capacity to act quickly on complex money-laundering and corruption cases.
