THE Bangko Sentral ng Pilipinas (BSP) reminded banks to freeze assets linked to individuals tagged as terrorists under the Anti-Money Laundering Council’s (AMLC) recent resolutions.
In a circular letter signed by BSP Deputy Governor Lyn I. Javier on Tuesday, the central bank told its concerned supervised financial institutions to comply with the immediate sanctions freeze orders (SFOs) issued by the AMLC last week.
The AMLC on Oct. 1 released Resolution Nos. TF-118 and TF-119, ordering the immediate freezing of all properties and funds, including associated accounts, owned or controlled by two individuals.
The assets belonged to a certain Janice Q. Javier and Josephine Parra Porquia, both of whom were named terrorists by the Anti-Terrorism Council.
According to the central bank, BSP-supervised financial institutions must submit to the AMLC a written return based on the implementing rules and regulations of the Terrorism Financing Prevention and Suppression Act (TFPSA) as well as suspicious transaction reports covering all previous transactions of Ms. Javier and Ms. Porquia.
Both documents must be submitted within five days of the SFO’s effectivity, it added.
The central bank also warned that any individual caught dealing with the tagged accounts or providing financial services to the identified terrorists “shall be prosecuted to the fullest extent of the law pursuant to the TFPSA.” — Katherine K. Chan