Court of Appeals Orders Extension of Freeze Order on Terrorist-Linked Properties and Funds
Manila, Philippines - Significant Development in Anti-Terrorism Efforts
In a significant development, the Court of Appeals has ordered the extension of the freeze order on properties and funds linked to terrorism, just six months after its implementation.
Background
The freeze order was initially issued by the Anti-Money Laundering Council (AMLC) in accordance with Republic Act No. 10168, also known as the “Terrorism Financing Prevention and Suppression Act of 2012”. This law aims to prevent the financing of terrorist activities by freezing assets linked to terrorism.
Extension of Freeze Order
The Court of Appeals has granted the AMLC’s petition for an extension of the freeze order, citing the ongoing efforts to track down and disrupt terrorist networks. The court noted that the extension is necessary to ensure the effective implementation of the law and to prevent the misuse of frozen assets.
Key Points
- Properties and funds linked to terrorism will remain frozen until further notice from the AMLC or the Court of Appeals.
- The freeze order applies to all individuals and entities involved in terrorist financing activities, regardless of their nationality or location.
Impact on Anti-Terrorism Efforts
The extension of the freeze order is seen as a major victory for anti-terror efforts in the Philippines, which has been plagued by terrorism and extremism in recent years. The law aims to disrupt the financial networks of terrorist organizations and prevent them from using the country’s financial system to fund their activities.
Next Steps
The AMLC will continue to work closely with other government agencies and international partners to implement the law effectively and prevent the misuse of frozen assets.
By extending the freeze order, the Court of Appeals has sent a strong message that terrorism financing will not be tolerated in the Philippines. This development is expected to have a significant impact on anti-terrorism efforts in the country, and we will continue to monitor developments closely.