Pres. Duterte Challenges Bangko Sentral to Investigate Him on His Alleged P200-Million Bank Deposits

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President Rody Duterte challenged the Bangko Sentral ng Pilipinas (BSP) to investigate him with his alleged P200-million bank deposits because for the past few months, there was no investigation with regards to the issue raised by Sen. Trillanes.

The Philippine President made the challenge to investigate him during his speech at the 80th National Bureau of Investigation Anniversary held at the NBI Gymnasium located in Taft Avenue, Ermita, Manila on Monday, November 14, 2016.

The BSP has issued a number of measures to bring the Philippines’ regulatory regime on money laundering closer to international standards.

The Anti-Money Laundering Act (AMLA) of 2001 was passed under Republic Act No. 9160 and amended through RA 9194, RA 10167 and RA 10365.

Based upon the definitions of the legislations, AMLA defines money laundering as a criminal offense, prescribes penalties for such crimes committed and forms the foundation of a central monitoring and implementing council called the Anti-Money Laundering Council (AMLC).

To combat money laundering, this law imposes requirements on customer identification, record keeping, reporting of covered and suspicious transactions, relaxes strict bank deposit secrecy laws, and provides for freezing/seizuer/forfeiture/recovery of dirty money/property as well as for international cooperation.

According to Pres. Duterte during the NBI Anniversary, he wanted the Central Bank and the AMLC to investigate him regarding his alleged bank deposits. He also added that he wants them to report to the Department of Justice and cooperate with the Duterte administration.

If the AMLC failed to cooperate with the Duterte administration as what the DOJ told him that the council found it hard for them to investigate some cases, he will personally go to Bangko Central and the AMLC to talk with them.

Watch the Complete Video Pres. Rody Duterte’s Speech at the NBI Anniversary:

Ed Umbao

Founder of | co-Founder of

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