PRESIDENT Rodrigo Duterte on Monday scored monetary authorities for “failing miserably” after millions were allegedly stashed and laundered in the country.
In his speech during the 80th anniversary of the National Bureau of Investigation, Duterte accused the Bangko Sentral ng Pilipinas and the Anti-Money Laundering Council of protecting vested interests “who are really into money laundering.”
“I’d like to address myself to the Central Bank guys and the AMLC. I’d like to warn [central bank people] to avoid a confrontation between us,” Duterte said.
Duterte cited the case of an unidentified businessman from a prominent family who supposedly launders billions of pesos through a corporation he established purposely for money laundering.
Admitting his disappointment following the allegations during the campaign made by Senator Antonio Trillanes IV that he had undeclared P211-million savings in his Bank of the Philippines Island account in Pasig City during the election campaign, Duterte reiterated his innocence as he questioned the AMLC for not pursuing any investigation against him during the campaign.
“You cannot tell the public because you are protecting somebody, those who are really into money laundering,” he said.
“Simply I said, you failed miserably,” Duterte said. “You better go to the secretary of Justice or I will go to you. I will call for you and you have to answer so many questions to me. You choose: either you cooperate [with] this republic to protect and serve our people or don’t make it hard for us. Otherwise, I will make it hard for you.”
Duterte admitted that he received large sums as “gifts,” the first one being his admission that a “little less than P211 million” was deposited in his bank account by his wealthy friends as a birthday gift.
AMLC is mandated to implement the provisions of Republic Act 9160, or the Anti-Money Laundering Act of 2001, whose primary duty is to preserve the integrity and confidentiality of bank accounts and ensure that the Philippines will not be used as a money laundering site.
“You’re also a part of the garbage which I resent to this day. And do not give me a reason to have a confrontation with you,” he said. “There are billions stashed there in the banks, were really being washed or just being kept there in the meantime.”