https://www.philstar.com/headlines/2026/03/26/2516880/amlc-exec-steps-aside-amid-flood-control-probe
MANILA, Philippines — The Anti-Money Laundering Council (AMLC) is undergoing a leadership transition as it continues to pursue one of its largest investigations in recent years, involving alleged corruption in flood control projects.
In a statement yesterday, the AMLC said its executive director Matthew David “has requested a transfer to another position within the Bangko Sentral ng Pilipinas (BSP).”
“In light of this development, AMLC designated acting director Arnold Kabanlit as officer-in-charge to ensure continuity in leadership while it conducts a search for a new executive director,” the council said.
The transition comes at a critical time, as the AMLC leads financial investigations into irregularities in flood control projects, where billions of pesos in public funds have been flagged for misuse.
During David’s tenure, the AMLC said it “froze P27.8 billion worth of assets from 862 individuals and 648 entities in relation to the flood control corruption issue.”
The scale of the freeze points to what could be one of the largest anti-money laundering enforcement actions linked to public infrastructure spending.
The assets covered 7,970 bank accounts, 219 real properties, 253 motor vehicles and 11 aircraft, suggesting complex financial flows and the use of multiple channels to move or conceal funds.
The flood control issue has drawn public attention in the past year, particularly after recurring flooding in several parts of the country despite sustained government spending on mitigation projects. Watchdogs have flagged potential leakages in procurement, subcontracting and fund disbursement, raising questions about how project funds are utilized.
The AMLC has been tasked with tracing these financial flows, identifying beneficial owners and building cases that could support forfeiture proceedings and potential criminal charges. It has already filed three civil forfeiture cases before a Manila court covering assets tied to alleged anomalies in flood control projects.
In a statement, the AMLC said the petitions were filed following extensive investigations and finding of probable cause. It involved properties of individuals and entities earlier subjected to freeze orders issued by the Court of Appeals.
The Regional Trial Court in Manila has already issued two provisional asset preservation orders linked to the cases, aimed at securing monetary instruments and properties while the proceedings are ongoing.
The AMLC, however, has yet to disclose key details surrounding the cases, including the exact filing dates of the civil forfeiture petitions and the total value of assets sought to be recovered.
David, who was appointed executive director in 2022, previously served as director of AMLC’s Investigation and Enforcement Department and as deputy director at the BSP’s Office of the General Counsel and Legal Services, placing him at the center of the council’s enforcement strategy.
The AMLC is chaired by the BSP governor, with the Securities and Exchange Commission chair and the Insurance Commission commissioner as members. It serves as the country’s primary agency for combating money laundering and terrorism financing.
P17 billlion to DPWH
The government meanwhile has injected nearly P17 billion to the Department of Public Works and Highways (DPWH) to settle its obligations and in a bid to revive infrastructure spending after a corruption scandal halted its projects and dented the economy.
In a statement, the Department of Budget and Management (DBM) said it issued a Notice of Cash Allocation worth P16.5 billion to the DPWH Central Office.?The funds will be cascaded to implementing units across 17 regions, enabling the timely payment of completed and ongoing infrastructure projects.
DBM Secretary Rolando Toledo said the fund release is part of the Marcos administration’s strategy to keep infrastructure projects on track while stimulating economic activity.
“By the directive of the President, we are accelerating infrastructure spending to keep projects moving and the economy growing. This P16.5-billion release ensures that obligations are paid on time so work continues without interruption and public service remains steady for the people,” he said.
The unresolved flood control scandal on anomalous infrastructure projects took a heavy toll on the Philippine economy, which slowed sharply to 4.4 percent last year as it weighed on government spending, investments and household consumption.
It was the weakest expansion in five years, with full-year growth missing the government’s 5.5 to 6.5 percent growth target.
