The Philippines Anti-Money Laundering Council (AMLC) has announced that it is investigating alleged money laundering linked to the ransom paid for the kidnapping of slain businessman Anson Que.
In a Monday statement, the AMLC noted that it is ‘working closely’ with the Philippine National Police (PNP), Philippine Amusement and Gaming Corporation (PAGCOR) and ‘the casinos’ regarding the ransom money paid.
The authority indicates that ‘the ransom monies were originally paid in Philippine Peso and US Dollars but were later converted to cryptocurrency’.
The AMLC indicates that it is ‘actively collaborating with the PNP to gather evidence on the unlawful activities, tracing the ransom funds in all their forms, and pursuing forfeiture proceedings’.
The PNP has alleged that two junket operators – 9 Dynasty Group and White Horse Club ‘facilitated a money laundering operation involving approximately PHP200-million ($3.58 million) ransom paid for Que’s release’.
The authorities say this involved ‘e-wallets intended exclusively for casino gaming, shell accounts, and cryptocurrency to obscure the money trail’.
However, the AMLC notes that it received reports that both junkets ‘officially ended their junket operations in most, if not all, Philippine casinos on 7 May 2025 – alongside 9 Dynasty’s reported announcement of its exit from the Philippine market’.
The money-laundering watchdog furthers that ‘the investigation extends beyond the kidnappers who directed the ransom payment process. It also targets casino players within these junket operations who initially received the ransom funds via their e-wallets’.
The AMLC will coordinate with the Philippine central bank (BSP) and the Securities and Exchange Commission (SEC) regarding the ‘unlicensed operations of these junket operators of e-wallets with cryptocurrency conversion capabilities’.
It also will work with foreign financial intelligence units ‘to gather more information on the movement of funds originating from the Philippines’.
Interestingly, over the weekend, authorities in Cebu arrested 11 individuals carrying nearly half a billion pesos ($9 million) in cash en route to Manila via private plane. The group claimed the money was part of their winnings from a casino in Cebu, saying that they were casino players brought into the country by junket operator White Horse Club.
