Anti-Money Laundering Council executive director Matthew David has requested a transfer within the Bangko Sentral ng Pilipinas. Arnold Kabanlit was designated as acting director to ensure leadership continuity. The move comes amid a major probe into corruption in flood control projects.
The Anti-Money Laundering Council (AMLC) announced in a statement yesterday that executive director Matthew David requested a transfer to another position within the Bangko Sentral ng Pilipinas (BSP). The council designated Arnold Kabanlit as officer-in-charge while searching for a permanent replacement. David, appointed in 2022, previously led AMLC’s Investigation and Enforcement Department and served as deputy director at the BSP’s Office of the General Counsel and Legal Services. Under his tenure, the AMLC froze P27.8 billion in assets linked to 862 individuals and 648 entities involved in alleged flood control project corruption. These included 7,970 bank accounts, 219 real properties, 253 motor vehicles, and 11 aircraft. The AMLC has filed three civil forfeiture cases in a Manila court, securing two provisional asset preservation orders from the Regional Trial Court. Details such as exact filing dates and asset values remain undisclosed. Separately, the Department of Budget and Management released a P16.5 billion Notice of Cash Allocation to the Department of Public Works and Highways to settle obligations and revive infrastructure spending after the scandal slowed projects and economic growth to 4.4 percent last year, according to DBM Secretary Rolando Toledo.
