Practice question
An ordinary freeze order covers PHP2 million in probable illicit proceeds within a PHP5 million account. The authority argues that the account’s existence permits an automatic freeze of all PHP5 million without a proceeds finding for the remaining money. Which statutory limit answers it?
- The order is confined to the amount or value supported by the required probable cause
- Account identity removes every limit
- The full balance is automatically a fine
- The remaining money is necessarily counterfeit
- The bank may award it to informers
Legal references
- RA11521, amended AMLA Sections8-A,10 and20: https://lawphil.net/statutes/repacts/ra2021/ra_11521_2021.html
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