The Anti-Money Laundering Council (AMLC) has indicated that it may investigate banks following a recent congressional inquiry that highlighted large cash transactions connected to a flood control scandal.
While the AMLC did not confirm whether such an investigation is already in progress, the possibility of increased scrutiny on banking activities remains clear.
Meanwhile, the state-run Land Bank of the Philippines (LandBank) has “strongly refuted” any insinuations of irregularity in its operations related to the matter.
https://business.inquirer.net/549850/amlc-may-review-banks-tied-to-flood-control-funds