Posted to the Philippine News Agency (Oct 21): Aquino gov't hopeful Senate will
pass amendment to AMLA
The Aquino administration remains optimistic the Senate will pass the amendment
to the Anti-Money Laundering Act after the Philippines managed to avoid falling
into the black list of the Financial Action Task Force.
Presidential Spokesperson Edwin Lacierda issued the statement during the
regular press briefing in Malacanang Monday following reports the Philippines
remains on the gray list of the Paris-based FATF.
The FATF set Oct. 19, 2012 as the deadline for the Philippine lawmakers to
pass the third amendment.
However, the amendment was not passed before the Senate adjourned last Oct.
17.... A dark gray listing means a country is not making sufficient progress against
money laundering and terrorist financing. On the onher hand, the gray list
signifies that a jurisdiction is making sufficient progress in the global
campaign against money launderers and terrorists....
http://www.pna.gov.ph/index.php?idn=&sid=&nid=&rid=464729
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