The Anti-Money Laundering Council (AMLC) of the Philippines has officially launched a financial investigation into the ransom flow in the kidnapping case of Chinese businessman Anson Que, focusing on whether there is systemic money laundering through the use of cryptocurrencies and casino accounts. This case involves not only personal kidnapping but also a complex financial network where up to 200 million pesos were covertly transferred using cryptographic methods.
According to an announcement by the AMLC, the council has joined forces with the Philippine National Police (PNP), the Philippine Amusement and Gaming Corporation (PAGCOR), and several involved casinos to closely track the flow of ransom. Preliminary investigations show that the ransom was initially paid in pesos and US dollars, with part of the amount quickly converted into cryptocurrencies to evade tracking.
Key syndicate emerges: 9 Dynasty Group and "White Horse Club"
The AMLC has indicated that two gambling intermediary groups, "9 Dynasty Group" and "White Horse Club," are suspected of being deeply involved in the money laundering process. The syndicate is suspected of using fake accounts, anonymous crypto wallets, and specific casino electronic payment systems to divert funds and deliberately obscure the actual transaction paths. Some transactions have been locked by the AMLC and have entered the account freezing process.
It is noteworthy that on May 7, the 9 Dynasty Group and "White Horse Club" suddenly announced the termination of their intermediary services in major casinos in the Philippines and declared a "complete market exit," which is generally interpreted as a proactive withdrawal to evade regulatory investigations, indicating the depth and complexity of the case.
Regulatory upgrade across the board, digital finance becomes a focus of attack
In its statement, the AMLC emphasized that this investigation is not limited to the kidnapping group involved but will also scrutinize all third-party accounts and operating entities that provide funding channels and receive ransom. The Central Bank of the Philippines (BSP) and the Securities and Exchange Commission (SEC) have also intervened, targeting a batch of service providers suspected of operating without a license for crypto wallets and electronic payments.
Currently, some suspicious accounts and digital payment platforms are facing freezing, sealing, and subsequent audit investigations. To combat illegal cryptocurrency exchange activities, the AMLC plans to collaborate with international financial intelligence organizations (FIU) for cross-border intelligence sharing to trace potential capital flight and international money laundering networks.
Industry shock: Gambling intermediaries and digital payment risks under scrutiny
This incident has raised alarms in the Philippine gambling industry and digital finance circles. Industry insiders point out that the money laundering risks posed by the "binding" of casinos and crypto assets have become a regulatory focus, especially those intermediaries and wallet service providers operating without a license.
"This is not just a criminal investigation, but a comprehensive examination of the systemic money laundering chain in the gambling intermediary system," said an anonymous source close to PAGCOR, "Next, more platforms with a 'intermediary + crypto' model may become the focus of rectification."
