AMLC warns public on swindling activities involving sales of land

THE ANTI-MONEY Laundering Council (AMLC) is warning the public against swindling activities involving sales of land that are using its name to collect fees from potential buyers.

“As consistently reiterated by the AMLC, there is absolutely no fee for the online registration of covered persons (CPs) and for the issuance of certificates of registration and that registration with the AMLC is only for CPs, which landowners are not,” it said in an advisory on its website.

“There is no requirement for landowners, or for whatever contracts related to their properties, to be registered with the AMLC. The AMLC warns the public not to be fooled by the words and promises of these swindlers.”

The agency said that the public can report swindling incidents to the AMLC through their e-mail.

The AMLC said these swindlers are falsely engaging in real estate business and “buy parcels of land from innocent landowners or offer them alleged real estate investment opportunities.”

“The swindlers tell landowners that they need to register individually with the AMLC, as a condition to receive the payments for their lands or to be able to join as real estate investors,” it said.

It noted cases where swindlers would register victims with the AMLC and charge a fee of up to P50,000.

“The swindlers make it appear that they have close connection with an official of the AMLC who facilitates their transactions,” it said.

There have been some cases where swindlers also demand payments for documentary stamp tax (DST) and “purchase agreements.”

“They demand more fees from landowners who, although they may have already paid so much to the swindlers but are not getting anything from the latter, may continue believing upon the swindlers’ words and would still pay all their additional demands. The victims may only finally realize the deception after falling deep into it.” — Luisa Maria Jacinta C. Jocson