AMLC approves freeze order on CPP-NPA related accounts—DOJ

MANILA, Philippines — The Anti-Money Laundering Council (AMLC) has approved the freezing of bank deposits and other assets of the Communist Party of the Philippines (CPP) and New People’s Army (NPA), according to the Department of Justice (DOJ).
In a text message to reporters on Sunday (December 27), DOJ Secretary Menardo Guevarra said the AMLC approved the freeze after the Anti-Terrorism Council (ATC) formally designated the CPP-NPA as a terrorist group.
AMLC Executive Director Mel Racela, meanwhile, clarified that there are no bank accounts directly named under the CPP-NPA.
“There are no accounts under the name of CPP/NPA, but the FO (freeze order) covers the related accounts (RA) of said organization. RA means all accounts opened and maintained for the benefit of said organization, the identification of which the banks and other covered persons will play a very important role,” Racela said.
He also added that the freeze order aims to “deprive designated terror organizations of resources to prevent possible terror attacks.” AAC