AMLC asks Senate: Restore P162 million budget
MANILA, Philippines — The Anti-Money Laundering Council (AMLC) yesterday asked senators to restore P162.9 million slashed from its proposed 2026 budget.
Without additional funding, the AMLC said its ability to prevent money laundering and corruption among public officials will be severely undermined.
AMLC executive director Matthew David said the agency had proposed P333.1 million to fund seven key programs next year, but the Department of Budget and Management endorsed only P170.16 million under the 2026 National Expenditure Program.
“The additional P162 million is crucial to sustain our operations, particularly in cybersecurity, inter-agency collaboration and prosecution of money laundering and terrorist financing cases,” David told senators.
Among the biggest items in the AMLC’s budget proposal are the maintenance and enhancement of its cybersecurity and database systems.
It also earmarked funds for the efficient prosecution of money laundering and terrorism financing cases, which includes P23 million in confidential funds for its enforcement and investigation arm.
David said the funds are needed to protect and analyze massive volumes of data collected by the agency. — Christine Boton
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