From InterAksyon (Oct 17): PH risks 'dirty money state' tag as AMLA changes hang in balance
The Philippines will likely face sanction from an intergovernmental organization fighting money laundering and terrorist financing if the Senate fails to pass the remaining amendments to the Anti-Money Laundering Act before October 19, according to Sen. Teofisto Guingona III. In his speech minutes before the adjournment of the Senate session on Wednesday, Guingona said that in two days, the Paris-based Financial Action Task Force on Money Laundering (FATF) would determine if the efforts of the Philippines in the global fight against "dirty" money were sufficient.... The blacklist is composed of countries and territories perceived by the FATF to be non-cooperative in the fight against laundering and terrorist financing. The FATF has set a meeting for the Asia-Pacific Group that includes the Philippines on Friday, October 19. In the past, the Philippines was placed in the dark grey list because of serious shortcomings in the country's anti-money laundering laws, according to Guingona....
http://www.interaksyon.com/article/45789/ph-risks-dirty-money-state-tag-as-amla-changes-hang-in-balance
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