PDEA, AMLC join forces vs laundered drug money

MANILA, Philippines — The Philippine Drug Enforcement Agency (PDEA) and the Anti-Money Laundering Council (AMLC) yesterday intensified their efforts against laundered drug money.

PDEA director general Wilkins Villanueva and AMLC executive director Mel Georgie Racela inked an agreement to implement criminal and civil forfeitures of laundered money believed to be proceeds from the activities of illegal drug syndicates.

“We need to track down the trail of drug money, arrest the perpetrators and freeze their assets while they are being prosecuted. This would deprive them the financial means to bail themselves out of jail,” Villanueva said in a statement.

Under the accord, the two agencies will work together in filing forfeiture cases of properties and other assets of individuals and groups which were sourced from the illegal drug trade.

The PDEA shall refer to the AMLC drug-related cases for investigation and filing of cases involving freeze order, civil forfeiture and money laundering.

The AMLC will cause the civil forfeiture of monetary instruments and properties believed to be used in laundering activities involving drug money.