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Placing 'dirty' money in a service company, where it is layered with legitimate income and then integrated into the flow of money, is a common form of money laundering. Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground ...
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).
It was established on January 3, 1949, and then re-established on July 3, 1993 pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993 [2] as amended by Republic Act 11211 or the New Central Bank Act of 2019. [3] The principal author was Senator Franklin Drilon. It was signed by President Rodrigo Duterte. [4]
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.
Juan Andres "Andy" Donato Bautista (born March 28, 1964) is a Filipino lawyer and former government official. He served as chairman of the Presidential Commission on Good Government (PCGG) from 2010 to 2015 and then chairman of the Commission on Elections (COMELEC) from 2015 to 2017 in the administration of President Benigno Aquino III.
(Reuters) -Three executives of voting technology company Smartmatic have been charged with funneling $1 million in bribes to a former Philippine election official to secure the country’s ...
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.
Bangladesh Bank chief, governor Atiur Rahman, resigned from his post amid the investigation of the central bank robbery and subsequent laundering of the money by the RCBC staff in the Philippines. He submitted his resignation letter to Prime Minister Sheikh Hasina on 15 March 2016.