AMLC checks names of flood control contractors

The Anti-Money Laundering Council (AMLC) is checking the names of flood control contractors linked to anomalous projects, its chairman said in a television interview.

Bangko Sentral ng Pilipinas Governor Eli Remolona, who chairs the AMLC, said the council “is certainly looking at certain names, which it usually does.”

“AMLC receives a lot of these suspicious transaction reports from banks, and when a name comes up, AMLC will look at those reports that are related to those names,” Remolona said in an interview with ANC’s Market Edge.

The AMLC is checking “quite a few” names, Remolona said.

President Ferdinand Marcos Jr. earlier identified the biggest contractors who dominated flood control projects across the country.

The Federation of Philippine Industries (FPI) expressed alarm over the “massive anomalies” in flood control projects, saying reports of undocumented projects, identical contract amounts and the use of substandard materials are not only “clear signs of corruption but also direct threats to public safety, industry operations and national resilience.”

The FPI warned that fraudulent or failed projects leave communities and industries vulnerable to destructive floods. The group called on the government to investigate anomalous projects and hold both officials and contractors accountable.

It also urged the government to institutionalize independent inspections, audits and performance checks, with blacklisting and sanctions for non-compliant contractors, and require all construction materials to meet Philippine National Standards (PNS) specifications.

“Never underestimate the value of integrity in everything we do—especially in infrastructure. When flood control is compromised by corruption, it’s not just concrete that cracks—it’s public trust, industry stability, and the safety of our communities,” FPI chairman Beth Lee said.

The FPI also welcomed the creation of the “Sumbong sa Pangulo” (Report to the President) platform and urged both the industry and citizens to report irregularities.