Manila: The Anti-Money Laundering Council (AMLC) has successfully obtained a new freeze order targeting additional bank accounts connected to flood control projects. This move marks a significant step in the ongoing investigation into financial irregularities associated with these projects.

According to Philippines News Agency, the latest freeze order was procured from the Court of Appeals and encompasses several more bank accounts linked to individuals of interest. Notably, this includes an entity whose license was allegedly utilized in the execution of non-existent flood control projects. The AMLC has already implemented four previous freeze orders, resulting in the freezing of 1,632 bank accounts, 54 insurance policies, 163 motor vehicles, 40 real properties, and 12 e-wallet accounts.

The cumulative value of the frozen assets now exceeds PHP4.4 billion. With the issuance of this fifth freeze order, the AMLC anticipates that this figure will continue to rise. AMLC Executive Director Matthew David emphasized the importance of each freeze order, stating that every secured order fortifies the evidentiary trail and ensures that unlawful funds are neither hidden nor dissipated.

The AMLC remains committed to collaborating with stakeholders and government agencies to diligently follow all leads and guarantee that funds meant for public welfare are not misappropriated for illegal purposes.