Bill Type
Congress Name
Long Title
AN ACT PENALIZING THE LAUNDERING OF MONETARY INSTRUMENTS, AUTHORIZING THE EXAMINATION OF BANK RECORDS, CREATION OF THE FINANCIAL TRANSACTIONS AND REPORTS ANALYSIS CENTER OF THE PHILIPPINES, AND FOR OTHER PURPOSES
Date filed
August 7, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 2147, 12th Congress of the Republic |
| FULL TITLE : AN ACT PENALIZING THE LAUNDERING OF MONETARY INSTRUMENTS, AUTHORIZING THE EXAMINATION OF BANK RECORDS, CREATION OF THE FINANCIAL TRANSACTIONS AND REPORTS ANALYSIS CENTER OF THE PHILIPPINES, AND FOR OTHER PURPOSES |
| ABSTRACT : The bill seeks to criminalize laundering and sets up to fight the illegal recycling of dirty money from crime, drugs and corruption. One of the salient features of this bill is the grant of authority to the Ombudsman and the secretaries of the Department of Justice and Finance and the Central Bank Governor to examine the bank records or accounts of laundering suspects or defendents under certain conditions and the creation of the Financial Transactions and Reports Analysis Center of the Philippines. |
| PRINCIPAL AUTHOR/S : GUNIGUNDO, MAGTANGGOL I T. |
| DATE FILED : 2001-08-07 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Echiverri (019 ) |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE |
| MOTHER BILL: House Bill No. 3083, 12th Congress of the Republic |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-08-13 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON APPROPRIATIONS |
Abstract
The bill seeks to criminalize laundering and sets up to fight the illegal recycling of dirty money from crime, drugs and corruption. One of the salient features of this bill is the grant of authority to the Ombudsman and the secretaries of the Department of Justice and Finance and the Central Bank Governor to examine the bank records or accounts of laundering suspects or defendents under certain conditions and the creation of the Financial Transactions and Reports Analysis Center of the Philippines.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.