Philippines Anti-Money Laundering Council Freezes Over 100 Bank Accounts and Virtual Asset Wallets

The Philippines Anti-Money Laundering Council (AMLC) has frozen over 100 bank accounts and virtual asset wallets associated with corrupt projects and flood-related schemes.

According to a report by BitRss, the move is part of the AMLC's efforts to combat money laundering and terrorist financing in the country.

The affected accounts and wallets are linked to various individuals and entities involved in corruption and flooding-related projects, with some allegedly using cryptocurrencies to facilitate their illicit activities.