The Anti-Money Laundering Council (AMLC) has issued a sanctions freeze order (SFO) that will be imposed on the suspected bank accounts of the Communist Party of the Philippines and the New People’s Army pursuant to the designation of the two groups as terrorist organizations by the Anti- Terrorism Council.
In a circular signed on January 13, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi Fonacier informed the financial institutions the BSP is supervising, particularly banks, that they should submit suspicious transaction reports on all previous transactions of the designated persons, organizations, associations or groups of persons suspected of being terrorists, within five days from receipt of the AMLC order.
Fonacier also warned that the financial institutions the BSP supervises will be prosecuted if they “deal directly or indirectly with any property or funds that they know or have reasonable ground to believe is owned or controlled by the designated persons, organizations, associations or groups of persons, including funds derived or generated from property or funds owned or controlled, directly or indirectly, by those subjects of designation.”
They were also warned against making available “any property or funds, or financial services or other related services to the designated persons, organizations, associations or groups of persons” designated as terrorists.
Aside from the CPP and NPA, the AMLC order also applies to the Islamic State in Iraq and Syria in South-East Asia; Dawlatul Islamiyah Waliyatul Masrik; Dawlatul Islamiyyah Waliyatul Mashriq; IS East Asia Division; Maute Group; Islamic State East Asia; Maute ISIS; Grupong ISIS; Grupo ISIS; Khilafah Islamiyah; Khilafah Islamiyah Mindanao; Ansharul Khilafah; Bangsamoro Islamic Freedom Fighters-Bungo; Bangsamoro Islamic Freedom Fighters-Abubakar; Jama’atu al-Muhajirin wal Ansar fil Filibin; Daulah Islamiyah; and other Daesh-affiliated groups in the Philippines. SOVEREIGNPH