BSP exec holds briefing on new freeze law on questionable bank accounts in the Visayas
Bangko Sentral ng Pilipinas (BSP) Deputy Governor Zeno Ronald R. Abenoja discusses the central bank’s recent measures addressing questionable activities related to certain government projects during the Visayas leg of the Philippine Economic Briefing (PEB) in Cebu on Sept. 19, 2025. He highlighted the implementation of the newly enacted Anti-Financial Accounts Screening Act (AFASA), under which the BSP has launched inquiries into the bank accounts of specific individuals suspected of involvement in money-milling activities. The law allows banks to temporarily freeze the accounts of those under investigation, with gathered information supporting broader agency inquiries and prosecution efforts. Abenoja also noted that the Anti-Money Laundering Act (AMLA) authority filed a petition with the Court of Appeals, which subsequently issued a freeze order. These ongoing actions aim to complement the work of other government agencies, providing a clearer understanding of the financial transactions connected to these projects.
KAISER JAN FUENTES
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