Court Freezes Over 100 Accounts and Virtual Asset Wallets as Philippines Anti-Money Laundering Council Obtains Freeze Order

Odaily reports: The Philippines Anti-Money Laundering Council has obtained a court freeze order, freezing over 100 financial accounts and other assets linked to a lawmaker and multiple individuals and entities, involving corruption, plunder, and irregularities in flood control projects. The freeze covers 86 bank accounts, 4 investment accounts, 1 insurance policy, and 25 virtual asset wallets. The council stated that the related funds flowed through multiple virtual asset service providers and various virtual asset wallets, increasing the difficulty of tracking, and did not disclose the identities of the lawmaker or other parties involved.