Speaker Lord Allan Velasco said the reconciled version of the bill, which introduces more stringent provisions to Republic Act 9160 or the Anti-Money Laundering Act (AMLA) of 2001, would help the Philippines avoid being included in the gray list of FATF-International Cooperation Review Group. (Photo from the Office of Speaker Velasco)
BOAC, Marinduque, Jan. 23 (PIA) The House of Representatives ratified Wednesday the bicameral conference committee report on the bill that would further amend the country’s anti-money laundering law, ahead of the February 2021 deadline set by the Paris-based global dirty money watchdog Financial Action Task Force (FATF).
Speaker Lord Allan Velasco said the reconciled version of the bill, which introduces more stringent provisions to Republic Act 9160 or the Anti-Money Laundering Act (AMLA) of 2001, would help the Philippines avoid being included in the gray list of FATF-International Cooperation Review Group.