AMLC freezes assets of 8 terrorist groups

MANILA, Philippines — The Anti-Money Laundering Council (AMLC) has issued orders to freeze the assets of eight groups and a person designated as terrorists by the Anti-Terrorism Council (ATC).

AMLC executive director Matthew David said the financial intelligence unit issued a freeze order against the Communist Party of the Philippines-New People’s Army (CPP-NPA).

The AMLC also issued a freeze order against the Islamic State of East Asia or Dawlah Islamiya, Abu Sayyaf, Maute Group, Maguid Group, Turaife Group, Hassan Group and Bangsamoro Islamic Freedom Fighters.

Also frozen were the assets of Elizabeth Pineda Principe, a ranking member of the central committee of the CPP-NPA.

The AMLC issued Resolution TF-86, TF-87 and TF-88 to freeze the properties or funds of the groups and Principe ”who are directly related or could be tied to a particular act, plot or threat as well as the property or funds of persons and entities acting on their behalf.”

Under Republic Act 10168 or the Terrorism Financing Prevention and Suppression Act, relevant government agencies including the Land Transportation Office, Land Registration Authority, Registry of Deeds, Maritime Industry Authority and Civil Aviation Authority of the Philippines are mandated to implement a freeze order against persons or groups designated as terrorists by the ATC.

Concerned institutions and government agencies are directed to submit to the AMLC the details required under the implementing rules and regulations of RA 10168.