DOJ secures 7 money laundering convictions in 2021-2024

The Department of Justice said on Saturday that it has secured at least seven convictions in its ongoing efforts to combat money laundering and terrorism financing from 2021 to the end of 2024.

This period coincides with the Philippines' inclusion on the Financial Action Task Force (FATF) grey list, which identifies jurisdictions under increased monitoring for financial crimes.

At a news forum in Quezon City, DOJ Deputy State Prosecutor Deana Perez highlighted notable convictions, including the anti-money laundering case against Janet Lim Napoles.

“Na-convict na po si Napoles for money laundering in relation to her plunder case,” Perez stated.

(Napoles has been convicted of money laundering in connection with her plunder case.)

The Regional Trial Court of Manila, Branch 24, found Napoles guilty beyond a reasonable doubt in July 2024 for violating Section 4(a) of Republic Act No. 9160, also known as the Anti-Money Laundering Act of 2001, as amended by Republic Act No. 10365. 

She was sentenced to an indeterminate imprisonment term of seven to 14 years and fined P16 million.

“Other personalities na napa-convict na for money laundering were some of those related sa Bangladesh Bank heist… May mga drug dealers na na-convict na rin,” Perez added.

(Other individuals convicted of money laundering include those involved in the Bangladesh Bank heist, as well as drug dealers.)

Overall, she noted the DOJ had successfully secured seven convictions for money laundering offenses.

“More are coming because [last year] dumami na ang kaso ng money laundering… about 180 [cases]… Hopefully mapaparami pa natin so that in the next round of evaluation of FATF hindi na tayo magkakaroon ng concern,” Perez said.

(More convictions are expected, as money laundering cases have surged in the past year, reaching approximately 180. We aim to increase these numbers to ensure that during the next FATF evaluation, the Philippines will no longer be a concern.)

Removed from grey list

Late last month, the Paris-based FATF announced the Philippines' removal from its grey list of countries under heightened scrutiny for money laundering and terrorism financing.

Perez attributed this achievement in part to the government’s decision to ban Philippine Offshore Gaming Operators (POGOs), which had been linked to illicit financial activities.

Additionally, DOJ Assistant Prosecutor Rex Guinggoyon emphasized the importance of Department Circular 20, issued in March 2023, in preventing the Philippines from being reinstated on the grey list.

Guinggoyon explained that the circular “mandates prosecutors to have a proactive approach with respect to investigation and prosecution of terrorist financing and money laundering .”

The Philippines was initially placed on the FATF grey list in June 2021.

Its removal follows nearly two years of efforts under President Ferdinand "Bongbong" Marcos Jr., who issued Executive Order (EO) No. 33 in July 2023.

The EO provided a comprehensive roadmap for addressing the FATF’s required action plan. — DVM, GMA Integrated News