Bank and electronic money accounts that will have unusual transactions ahead of the May 2022 national polls will be investigated by the Anti-Money Laundering Council (AMLCe for any election-related crimes, including vote-buying and vote-selling.
AMLC earlier issued an advisory in anticipation of the possible rise of digital financial transactions during the election period.
The AMLC said the probe will not violate the Data Privacy Act.
Lawyer Mel Georgie Racela, Anti-Money Laundering Council (AMLC) Executive Director, said the Council, based on an opinion by the National Privacy Commission as early as 2017, can investigate financial transactions and this will not be a violation under the Data Privacy Act since this is part of AMLC’s mandate.
As a financial intelligence unit, our mandate is to preserve integrity of the bank accounts and to ensure that the Philippines is not being used to launder proceeds of unlawful activities, Racela said during the Laging Handa briefing on Wednesday. Read More