MANILA, Philippines – The Anti-Money Laundering Council (AMLC) has issued a freeze order on accounts and assets related to the National Democratic Front of the Philippines (NDFP) after the anti-terrorism council (ATC) designated it as a terrorist group.
“The AMLC issued Resolution No. TF-42, series of 2021 directing the issuance of Sanctions Freeze Order to take effect immediately against the National Democratic Front (NDF), also known as the National Democratic Front of the Philippines (NDFP), pursuant to its designation as terrorist by the ATC Resolution No. 21 dated June 23, and the freezing without delay of the following property or funds, including related accounts,” the AMLC said in a notice posted on its website.
The ATC earlier designated the NDF as a terror group, citing is as an “integral and inseparable part” of the Communist Party of the Philippines-New People’s Army since 1973.
The AMLC said the freeze order covers property or funds that are owned or controlled by the NDF, and its “not limited to those that are directly related or can be tied to a particular terrorist act, plot, or threat.”
Also covered are property or funds that are “wholly or jointly owned or controlled, directly or indirectly, by the NDF.”
Property or funds derived or generated from funds or other assets owned or controlled, directly or indirectly, by the NDF; and property or funds of persons and entities acting on behalf or at the direction of the NDF, are also covered by the freeze order.
The AMLC said that any person, whether natural or juridical, including covered persons, private companies, government owned or controlled corporations, and government agencies and instrumentalities shall be prosecuted to the fullest extent of the law pursuant to Terrorism Financing Prevention and Suppression Act of 2012 (TFPSA) if they are found:
- Dealing directly or indirectly, in any way and by any means, with any property or fund that he knows or has reasonable ground to believe is owned or controlled by the NDF, also known as the NDFP, including funds derived or generated from property or funds owned or controlled, directly or indirectly, by the NDF
- Making available any property or funds, or financial services or other related services to the NDF
“All covered persons are mandated to submit as Suspicious Transaction Report all previous transactions of the NDF, also known as the NDFP, within five days from effectivity of this order,” the AMLC said.
“All persons, organizations, associations or groups of persons whose property or funds are frozen, including related accounts are hereby informed that they may avail of the remedies under Republic Act No. 11479, otherwise known as Anti-Terrorism Act of 2020, and its Implementing Rules and Regulations and under the TFPSA and its Implementing Rules and Regulations,” it added.