The Anti-Money Laundering Council (AMLC) on Monday stressed that cracking down on financial crimes requires a whole-of-government approach involving regulators, financial institutions, and enforcement agencies.
During Senate budget deliberations, Senator Erwin Tulfo asked AMLC officials if their proposed PHP333.1 million allocation for 2026 would guarantee an end to money laundering.
“You’re saying that if we give this to you, can you guarantee that no individuals, groups or agencies will again launder public money?” Tulfo asked.
AMLC Executive Director Matthew David replied that there could be no “100 percent guarantee,” but emphasized that greater resources and inter-agency cooperation are crucial. “There’s no 100 percent guarantee that these activities will not happen again because investigating money laundering is a whole-of-government effort… But definitely, the budget we are requesting will help us… particularly in analyzing and processing millions of transaction reports we are receiving,” he said.
Senator Panfilo Lacson urged AMLC to be more assertive in its request. “The point I’m trying to drive at is itodo ninyo na. Don’t say you’re not 100 percent sure you can monitor everything. Whatever you need, submit it in your position paper—even beyond what was not granted in the NEP—and let’s see what we can do at least in the Senate,” he said.
Of the PHP333.1 million proposed for 2026, only PHP170 million was approved under the National Expenditure Program, leaving a shortfall of more than PHP160 million. David said additional funds would support ICT and cybersecurity upgrades, inter-agency coordination, administrative support, and case prosecution.
The discussion came after Lacson cited alleged money laundering activities of former Department of Public Works and Highways officials linked to ghost flood control projects in Bulacan. Dubbed the “BGC Boys” or Bulacan Group of Contractors, they allegedly laundered billions of pesos through casinos by converting cash into chips, engaging in minimal play, and cashing out chips as supposed winnings.
Lacson warned that such schemes highlight how public funds from questionable projects can be siphoned off, stressing the need for stronger AMLC support.
David said enhanced funding would allow AMLC to bolster its systems, expand collaboration, and keep the country aligned with international standards against money laundering and terrorist financing.