Creative laundering

 “The flow of funds from European donors to legitimate Philippine entities which find its way to Communist linked organizations can only be stopped if Philippine regulatory agencies succeed in holding off any subsequent channelling, and therefore creative laundering of funds to communist linked persons or associations,” the President’s EU Special Envoy, Atty. Avelino V. Cruz commented on the Philippine STAR article of Aug. 15, in response to press statement by Ambassador Franz Jessen of the EU.

In a meeting last May 23, 2019 with EU’s top Security Defense official, Mr. Pedro Serrano, amongst DFA and intelligence officials, Cruz commented that  “it is apparent that the Philippine side must do its homework on the second stage of creative laundering of funds in favor of charitable or even religious persons or organizations, thus converting it into cash flow for illegal persons or entities.”

Special Envoy Cruz supported the order of DFA Secretary Locsin in June 2019, that initially, all donations must be cleared with the Philippine government. “This is where the job of Philippine banking and regulatory agencies come in,” said Cruz.

This statement becomes relevant as debate rages on heavily funded communist recruitment activities. - Press statement by Avelino V. Cruz Special Envoy of the President to the EU