MANILA, Philippines–While a freeze order has already been approved by the Anti-Money Laundering Council (AMLC), the number of bank accounts and other assets of the Communist Party of the Philippines-New People’s Army is still at zero.
“The FO (freeze order) makes general reference to the “CPP/NPA and related accounts (RA)” only. The covered persons including banks will play a very important role in identifying these RAs because they will have the information to determine whether or not an account or accounts is/are being used or maintained directly or indirectly by said designated CPP/NPA,” AMLC Executive Director Mel Racela said Monday.
He said: “Based on available …
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