In a major Philippines flood control scandal shell companies divert PHP 118.5 billion, accelerating calls for mandatory beneficial ownership (BO) disclosure in procurement

A flood control corruption scandal in the Philippines implicated sitting senators, members of the House of Representatives, and Department Of Public Works And Highways staff, with the Department of Finance estimating losses of PHP 118.5 billion from 2023 to 2025 diverted through shell companies. The case triggered graft and corruption charges and sharpened calls to accelerate BO transparency in public procurement under the Philippines' 2024 New Government Procurement Act.

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Show records tagged: AML/CFT Show records tagged: Corruption Show records tagged: Public procurement

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