The Anti-Money Laundering Council (AMLC) is actively seeking to recover P5 billion in assets connected to corruption in flood control projects in the Philippines. Officials confirmed that the assets under investigation include vehicles and bank accounts.
The AMLC’s efforts are part of a broader initiative to combat corruption, promote transparency, and ensure accountability in government infrastructure projects. Authorities are tracing the ownership of the identified assets, with legal proceedings likely to follow.
Recovered funds could potentially be redirected to support public projects, including flood control initiatives. The AMLC emphasized the importance of cooperation from financial institutions to expedite the asset recovery process.
“The pursuit of these assets demonstrates our commitment to financial oversight and enforcing anti-corruption measures,” AMLC officials said. They noted that public awareness campaigns accompany the investigation to highlight the significance of combating financial crimes.
The council continues to coordinate with relevant authorities to identify and seize assets acquired through illicit means. Officials stressed that the proactive approach serves both as a deterrent to future corruption and as a safeguard for public resources.
The AMLC’s ongoing efforts reflect the Philippine government’s broader commitment to integrity and accountability in managing public funds, particularly in vital infrastructure projects.