PNP, PDEA financial crime investigators cited
DEPUTIZED Anti-Money Laundering Council Financial Crime Investigators (DAFIs) of the Philippine National Police (PNP) and the Philippine Drug Enforcement Agency (PDEA) have been cited for their role in the removal of the Philippines from the Financial Action Task Force or FATF’s so-called ‘grey list.’
PDEA Director General Isagani R. Nerez underscored the crucial role played by PDEA DAFIs in the removal of the Philippines from the FATF’s so-called anti-dirty money ‘grey list.’
Through committed reforms and strong inter-agency cooperation under the leadership of President Ferdinand R. Marcos, Jr., the Philippines has succeeded in addressing the strategic deficiencies, particularly in countering money laundering, prompting the FATF to clear the country from the notorious list.
Four years ago, the Philippines was included in the international body’s list of countries being watched for money-laundering and countering financing of terrorism or AML/CFT.
The FATF said the country is no longer under increased monitoring or ‘grey list’ which means that it has already fully committed to resolving all identified strategic deficiencies within agreed timeframes.
“The FATF Plenary congratulated the Philippines for the positive progress in addressing the strategic anti-money laundering and countering the financing of terrorism and proliferation financing deficiencies previously identified during their mutual evaluations. The Philippines has completed their Action Plan to resolve the identified strategic deficiencies within agreed timeframes and will no longer be subject to the FATF’s increased monitoring process,” the international anti-dirty money body said.
“PDEA DAFIs served as force multipliers in the national development of financial intelligence, investigation, prosecution and confiscation in relation to money laundering and its predicate offenses,” the lawyer-retired police general said.
PNP DAFIs were also commended by the PNP leadership headed by General Rommel Francisco D. Marbil for their efforts to boost the national police force’s efforts against money-laundering and financial crimes in the country.
The PNP and the AMLC headed by its Executive Director Matthew M. David havw also partnered to uphold the rule of law, preserve the integrity of the financial system and ensure the security of the nation.
The PNP leadership previously said it will continue to enhance their capabilities, improve intelligence gathering and analysis, and streamline investigative processes as they work closely with the AMLC to identify emerging trends, share best practices, and develop targeted strategies to effectively disrupt the financial networks of criminal syndicates.
The PDEA and the PNP also admitted that strengthening their partnership at the grassroot level will enable them to really address regional and community-based financial crimes more effectively.
Another is the need for continuous vigilance and commitment of PNP and PDEA financial investigators in protecting the financial system and preventing the misuse of funds for criminal purposes.
The AMLC in the past played a pivotal role in assisting the PNP and the PDEA in dismantling criminal networks, disrupting the flow of illicit funds, and bringing the perpetrators to justice.
These successful operations were the result of full collaboration, information sharing, and capacity-building initiatives to combat money-laundering and other related offenses.
PNP and PDEA DAFIs are trained to conduct financial investigations on ‘persons of interests’ who are believed to be involved in illegal drug activities and other transnational crimes.
They are tasked to determine if the assets of persons they are investigating were ‘derived from their lawful income or are derived from proceeds or fruits of illegal drug trafficking and other crimes and to refer the result of investigation to the proper forum.’
Investigation of bank account records, business records, deeds of conveyances, Transfer Certificate of Titles/Certificates of Land, Vehicle Official Receipts and Certificates of Registration however are being made in compliance with the law.
Also tasked to investigate monetary instruments such as bank accounts and insurance policies believed to be used to launder drug money, the DAFIs’ presence has provided impetus to the country’s anti-drug money laundering investigations previously done by a limited number of investigators from the AMLC, the Agency explained.
“With financial crimes constantly evolving, PDEA DAFIs continue to strengthen their financial investigative capabilities to detect and repress money laundering activities, and help ensure that the country stays out of the FATF grey list,” Nerez said.
In appreciation of the exemplary service performed by the DAFIs, they are being recognized under PDEA’s Program on Awards and Incentives for Service Excellence (PRAISE).
