'Relaxed secrecy law needed to delist RP in money laundering list'.

The Philippines could only be delisted from an international list of 15 money laundering havens if Congress relaxes a law tightly guarding the secrecy of bank deposits.

Bangko Sentral Gov. Rafael B. Buenaventura yesterday made the comment on local cable television even as the nation stood in awe over the intricate web of financial deals allegedly linking President Estrada with illegal gambling operations.

Lawyers in the prosecution panel in the ongoing impeachment trial on Mr. Estrada described the complex deals as part of money laundering activities.

Money laundering is the process of masking funds sourced from such criminal activities as fraud, …