From the Daily Tribune (Oct 19): AMLA bill fails to beat FATF blacklist deadline
Time ran out at the Senate for the bill seeking a third amendment to the Anti-Money Laundering Act (AMLA) that the powerful Paris-based Financial Action Task Force (FATF) required on the country to head off being included in a blacklist of dirty money havens after its anticipated approval on third reading got stumped on constitutional issues raised in last night’s plenary session. Last June, the Philippines was upgraded by the FATF from the dark-gray to the gray list after the approval of the “Act To Further Strengthen the Anti-Money Laundering Law” and “The Terrorism Financing Prevention And Suppression Act of 2012.” The FATF is currently meeting in Paris to review the compliance of its 36 member nations, which include the Philippines, with international standards against money laundering. The deadline for the Asia Pacific Group was set today....
http://www.tribune.net.ph/index.php/headlines/item/5809-amla-bill-fails-to-beat-fatf-blacklist-deadline
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