’Strong message to money launderers’: AMLC turns over to US funds from sale of seized asset

MANILA, Philippines—The Anti-Money Laundering Council recently turned over to the US government millions of pesos of proceeds from the disposal of a property that was part of a case involving the movement of ill-gotten assets across national borders.

In a statement, the country’s dirty money watchdog said P18.3 million from the sale of a forfeited house and lot was handed to American authorities under the Mutual Legal Assistance Treaty between both jurisdictions late last month.

The agency said the action was made on the account of the US government’s request for assistance made to Philippine counterparts.

Located in Calamba, Laguna, the forfeited property is covered by Transf…

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