THE SENATE on Wednesday approved on second reading a bill seeking to impose tougher penalties on those using financial accounts to commit crimes.

Under Senate Bill No. 2560, or the proposed Anti-Financial Account Scamming Act (AFASA) filed by Senator Mark A. Villar, individuals found guilty of money mule schemes would face jail time of at least six years and a fine as much as P500,000.

Those found guilty of fraud face jail time of as many as 12 years and a fine of not more than P1 million.

Individuals found guilty of economic sabotage face life imprisonment and a fine of at least P1 million but not more than P5 million.

At Wednesday’s plenary session, Senator Ana Theresia N. Hontiveros-Baraquel proposed an amendment entailing the civil forfeiture of all properties and other non-liquid assets of individuals involved in cases of economic sabotage, which Mr. Villar, the bill’s sponsor and author, accepted.

The release of these assets will be done only by order of a local court, Ms. Hontiveros said, noting that the amendment was crafted in consultation with the Department of Justice (DoJ).

The Supreme Court will be tasked to craft rules on carrying out the proposed provision, which would include releasing a portion of the assets to the DoJ that would be used for support and protection for human trafficking victims, the senator said.

“This amendment is being proposed to address the difficulties currently being encountered by our government bodies targeting large-scale trans-national scamming syndicates that usually operate on the backs of human trafficking victims,” she told the Senate floor.

“The victims rescued after a raid the complex, run in the thousands per scam complex, and government lacks resources and capacity for operations and assistance.”

The measure is one of the Legislative-Executive Development Advisory Council’s priority bills of President Ferdinand R. Marcos, Jr.’s administration.

The Bangko Sentral ng Pilipinas in January said the bill, which the House of Representatives has already approved, would help address the rise in crimes involving banks, e-wallets, and other types of financial accounts. — John Victor D. Ordoñez

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