AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
PHILIPPINE GOV'T ACTS AGAINST MONEY LAUNDERING.
MANILA, Feb 4 Asia Pulse - Regulators have crafted a compromise by which the country's banks would avoid punitive sanctions from the Financial Action Task Force (FATF) without compromising the cloak of secrecy on bank deposits guaranteed by the Philippine Constitution.
Quite remarkably also, the Paris-based anti-money laundering watchdog has considered the proposal sufficient compliance to its directive for Manila to recast existing legislation or suffer the consequences of its inaction in less than two weeks.
According to Bangko Sentral ng Pilipinas governor and Anti-Money Laundering Council (AMLC) chairman Rafael Buenaventura, the FATF lifted the threat of countermeasures that ought to take effect on February 12 were it not for this compromise.
"(The proposal) met the FATF's criteria," Buenaventura reported last Friday.He proposed the development of a data base segregating automatically all transactions exceeding P500,000 (US$9,279) and over which the AMLC has authority to examine for possible violations of the newly minted Anti-Money Laundering Act.
In this manner the FATF satisfied its ...
- New money laundering windows opening up, reveals Anti-Money Laundering Task...
- News wire article from: UNB - United News of Bangladesh October 28, 2007 700+ words
...country, a meeting of the Anti-Money Laundering Task Force revealed today (Sunday...alert in this regard to prevent money laundering through the windows, a senior...director Abul Quashem chaired the task force meeting at the central bank...
- Treasury aide chosen to lead money laundering task force. (Ronald K. Noble)...
- Magazine article from: American Banker Henry, Shannon June 21, 1994 700+ words
...Financial Action Task Force -- or FATF -- on money laundering, beginning in...president of the task force. "The best way...Paris that the task force would continue...and international money laundering. Some of the recommendations...
- MONEY LAUNDERING TASK FORCE.(Caribbean Financial Action Task Force elects...
- Newspaper article from: Caribbean Update December 1, 2003 700+ words
...Caribbean Financial Action Task Force, a 30-member group...devoted to combating money laundering and terrorism financing. The meeting of the task force began in Antigua on...combat the scourges of money laundering and terrorism tinancing...
- RUSSIA: MONEY-LAUNDERING TASK FORCE GIVES RUSSIA FAILING MARKS.(as well as...
- Newspaper article from: IPR Strategic Business Information Database July 3, 2000 700+ words
An international task force on money-laundering, the Finance Action Task Force (FATF), has put 15 countries, including Russia...inadequate resources for preventing and detecting money laundering. Other countries on the list are the Bahamas...
- RUSSIA: MONEY-LAUNDERING TASK FORCE TO BACK RUSSIA'S ADMISSION.(Brief Article)
- Newspaper article from: IPR Strategic Business Information Database May 4, 2003 700+ words
A delegation of the Financial Action Task Force on Money Laundering (FATF), an intergovernmental body based in Paris...crime figures were involved in international money laundering through U.S. banks. At a final session with...
- RUSSIA: RUSSIA BLACKLISTED BY MONEY-LAUNDERING TASK FORCE.(Brief Article)
- Newspaper article from: IPR Strategic Business Information Database July 26, 2000 700+ words
An international task force on money-laundering, the Finance Action Task Force (FATF), has put Russia on its blacklist of countries which it says do not cooperate against the transfer of illegally acquired assets, AP reported on 22 June...
- FAFT revisits money laundering.(Update)(Financial Action Task Force forty...
- Magazine article from: Internal Auditor Salierno, D. August 1, 2003 700+ words
...prescribed anti-money-laundering measures. The...Financing, the task force says its revision...for combating money laundering and terrorist...In 1996, the task force revised its...reflect evolving money-laundering techniques...
- FATF Endorses Gibraltar's Robust Anti-money Laundering Regime.(Financial Action...
- News wire article from: Mondaq Business Briefing November 22, 2002 700+ words
...Financial Action Task Force (FATF) has endorsed the anti-money laundering regime in place...fight against money laundering is, however...Financial Action Task Force (FATF) was...measures to combat money laundering. In April 1990...
