P3.5 Million in Drug-Linked Bank Accounts Forfeited in Philippines

MANILA, Philippines — The Anti-Money Laundering Council (AMLC) has secured a court order to forfeit about P3.5 million in bank accounts linked to illegal drug trafficking. The Regional Trial Court in Manila, in a decision dated Aug. 24, ordered the forfeiture, in favor of the government, of 10 bank accounts linked to four individuals, the AMLC said in a statement on Tuesday. The court found that the funds were proceeds of illegal drug trafficking. The case stemmed from a Philippine Drug Enforcement Agency (PDEA) buy-bust operation in Zamboanga City targeting two individuals. Authorities recovered methamphetamine hydrochloride, or shabu, as well as financial documents during the operation. The PDEA subsequently asked the AMLC to conduct a financial investigation into the subjects and bank accounts identified in the documents. The AMLC’s probe uncovered additional related accounts and established their links to illegal drug trafficking.