Key points:
- AMLC working with police and regulators to trace funds across cash, e-wallet and crypto channels
- Junket-linked e-wallets allegedly used to obscure money trail
- Operators 9 Dynasty and White Horse Club exited casinos ahead of formal inquiry
The Anti-Money Laundering Council (AMLC) has begun an investigation into the suspected laundering of ransom funds linked to the kidnapping of businessman Anson Que, according to The Manila Times. The PHP200m payment, made in both pesos and US dollars, was allegedly routed through casino-linked e-wallets before being converted into cryptocurrency.
Authorities believe junket operators 9 Dynasty Group and White Horse Club played a role in facilitating the movement of the funds. The AMLC stated that these entities reportedly made use of shell accounts and e-wallets designated for casino gaming, complicating efforts to trace the money’s origin and final destination.
The AMLC is working closely with the Philippine National Police (PNP), the Philippine Amusement and Gaming Corporation (Pagcor), and several financial regulators. The investigation seeks to identify not only those who orchestrated the kidnapping but also individuals within casino operations who first received the ransom money via their digital wallets.
Both 9 Dynasty and White Horse Club are reported to have ceased operations in most Philippine casinos as of 7 May. 9 Dynasty has also indicated its intention to exit the domestic market entirely. The AMLC, in response, is coordinating with the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission to review possible unauthorised use of e-wallet platforms and cryptocurrency services.
The council is also engaging with foreign financial intelligence units to examine any cross-border fund transfers linked to the case. It noted that the investigation is intended to protect the integrity of the Philippine financial system and ensure that digital channels are not misused for criminal purposes.
