AMLC Investigates Banks for Failing to Flag Transactions in Alice Guo Money Laundering Case

The Anti-Money Laundering Council (AMLC) is investigating local banks that may have neglected to report transactions linked to the high-profile money laundering case involving former Bamban, Tarlac mayor Alice Guo. The probe seeks to identify if these banks violated the Anti-Money Laundering Act (AMLA) by failing to file suspicious transaction reports (STRs) with AMLC.

During a Senate budget hearing, Senator Grace Poe stated that AMLC had launched enforcement proceedings against these banks. Should AMLC find evidence of violations, banks could face charges or fines ranging from P50,000 to P500,000 per transaction, capped at P10 million to P20 million depending on the circumstances. If bank officers are found to have knowingly facilitated the money laundering, criminal charges may also be pursued.

The AMLC has also requested additional funds for 2025 to support the implementation of artificial intelligence (AI) to better detect unusual transactions. Senator Poe emphasized the need for automation, explaining, “If done manually, it’s extremely difficult to track thousands of daily transactions.”

The AI system is expected to help AMLC handle the large volume of covered and suspicious transaction reports, enhancing its ability to detect potential illicit financial activities.

The Alice Guo case has underscored significant lapses in AMLC’s tracking capabilities, with Senator Sherwin Gatchalian noting AMLC’s failure to monitor a P6.1 billion transaction allegedly tied to POGO operations in Bamban. Guo and 35 others face 87 counts of money laundering linked to POGO hubs in Tarlac and Pampanga, with a resolution expected soon.