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The Anti–Money Laundering Council (AMLC) is the agency of the Government of the Philippines that is tasked to implement the provisions of Republic Act No. 9160, also known as the Anti–Money Laundering Act of 2001 (AMLA), as amended, and Republic Act No. 10168, also known as the “Terrorism Financing Prevention and Suppression Act of 2012” (TFPSA).
In February 2013, Philippine President Benigno Aquino III signed "Republic Act No. 10365" known as An Act Further Strengthening the Anti-Money Laundering Law, [41] which aims to strengthen the AMLC by requiring that any suspicious transaction in foreign exchange, real estate, and jewelry and precious metal trading be reported. [42]
The Securities and Exchange Commission (SEC) filed criminal charges against Kapa-Community Ministry International and its executives, citing an investment scam. [7] [8] President Rodrigo Duterte was the first government official to announce the legal actions, doing so on June 8, 2019, when he ordered the National Bureau of Investigation (NBI) to shut down Kapa.
Philippine President Rodrigo Duterte signed a law on Friday to strengthen anti-money laundering and terrorist financing regulations ahead of a Feb. 1 deadline set by a global financial watchdog.
The Philippines' National Bureau of Investigation (NBI) launched a probe and looked into a Chinese-Filipino who allegedly played a key role in the money laundering of the illicit funds. The NBI is coordinating with relevant government agencies including the country's Anti-Money Laundering Council (AMLC).
AMLC – Anti-Money Laundering Council ARESCOM – Philippine Army Reserve Command ARG – Armed Forces of the Philippines Reserve Command Affiliate Reserve Group
Smartmatic's president and co-founder, Roger Alejandro Pinate Martinez, 49, and two co-defendants were charged with foreign bribery and money laundering alongside a former chairman of the ...
In terms of section 2, "Money Laundering means – (i) knowingly moving, converting, or transferring proceeds of crime or property involved in an offence for the following purposes:- (1) concealing or disguising the illicit nature, source, location, ownership or control of the proceeds of crime; or (2) assisting any person involved in the ...