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COA flags AFP for unauthorized bank accounts, unfinished contracts enablePagination: false endIndex: Metro Manila (CNN Philippines, July 13) – The Commission on Audit (COA) flagged the Armed Forces of the Philippines (AFP) for its unauthorized bank accounts worth ₱1.8 billion and dozens of incomplete projects amounting to about ₱6.8 billion. The latest COA report showed the 20 unauthorized bank accounts worth a total of ₱1,812,797,567.87 were deposited in different banks such as Land Bank of the Philippines, Development Bank of the Philippines, and United Coconut Planters Bank. COA said the AFP Modernization Act Trust Fund has the highest remaining bank account balance with more than ₱1.3 billion in three bank accounts under its Central Office, followed by the AFP Educational Benefit System Office (EBSO) with eight bank accounts that totaled ₱347.48 million.

Metro manilaPhilippines generalThe philippinesBureau of treasuryModernization fundHeadquarters central officeCentral officeLand bankReal estate officeUnited coconut planters bankDevelopment bankPermanent committeeEducational benefit system officeArmed forces of the philippinesCommission on auditDepartment of national defense