From the Philippine Daily Inquirer (Oct 12): Senate deadlock looms over Amla amendments
A deadlock looms as the Senate is set to vote on the last round of amendments
to the Anti-Money Laundering Act (Amla) with some senators airing concerns over
certain “improvements” made to the law as required by a global group monitoring
terrorist financing. Sen. Sergio Osmeña III, chairman of the banking committee, said several
colleagues are worried over an amendment requiring businesses like real estate
companies and jewelers to report their transactions. There were also questions about the introduction of an ex parte provision
that does away with a prior court notice to a depositor before the Anti-Money
Laundering Council (AMLC) freezes his cash on suspicion that it was illegally
acquired. The same ex parte provision would also apply in cases of suspected tax
evasion....
http://newsinfo.inquirer.net/287534/senate-deadlock-looms-over-amla-amendments
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