President Rodrigo Duterte has ordered an investigation on the entry of huge amounts of cash brought into the country by Chinese nationals, allegedly being used for criminal activities.
Duterte’s spokesperson Salvador Panelo said the probe will be headed by the Department of Finance.
The Chinese natonals have alleged that the cash would be used in the Philippine Offshore Gaming Operator (POGO) business in the Philippines.
Panelo has urged Senator Richard Gordon, who exposed the potential money laundering scheme, to provide information to the government in order to support his claim that the large sums of cash might be used for anomalous activities, including funding state enemies.
Gordon said last week that about US$188 million in cash had been brought into the country by Chinese nationals between December and February.
Panelo said Bangko Sentral ng Pilipinas Governor and Anti-Money Laundering Council (AMLC) chairperson Benjamin Diokno updated Duterte and Cabinet on Monday about legislative amendments to the Anti-Money Laundering Act (AMLA) and Human Security Act.
“The successful passage of key amendments to the AMLA and the Human Security Act, according to Governor Diokno, will complement or boost our efforts towards an A-credit rating for the country,” Panelo said./Stacy Ang
