What is money laundering?
Money laundering is a heinous crime that is hidden in the public’s view. It’s the process by which large amounts of illegally obtained money is given the appearance of having originated from a legitimate source. If done successfully, allows the criminals to maintain control over their proceeds and ultimately provide a legitimate cover for their source of income.
To mark an end on this, the congress enacted the
republic act 160 otherwise known as the anti money laundering act of
2001 where the Bangko Sentral Philipinas and the anti money laundering
council secretariat, led by executive director attorney Vicente Asakino,
doing the very best they could to combat
What is Money Laundering?
There are several acts of money laundering. No one is transacting or attempting to transact dirty money or property. Number two knowingly facilitating money laundering. And no 3, knowingly failing to report covert or suspicious transaction to the anti money laundering council. According to Akino, money laundering plays a fundamental role in facilitating the ambitions of a drug trafficker or organized criminal group or mafia.
cells in financing terrorist activities as well as the many others
who need to avoid the kind of attention from the authorities that sudden
wealth acquired from illegal activity. Most of the time they’re illegally obtained money
are concealed through legitimate businesses and financial institutions such as
banks which launders the money in order to make it look legal.
I’d like to at least the support in the system of all the students and the faculty members of the Philippines. Please fight against money laundering and terrorist.
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A haka is a traditional dance form of the Maori of New Zealand. The Maori Haka It is a posture dance with shouted accompaniment, performed by a group.
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