Bill Type
Congress Name
Long Title
AN ACT CRIMINALIZING MONEY LAUNDERING ACTIVITIES IN THE PHILIPPINES AND PROVIDING PENALTIES THEREFOR
Date filed
September 19, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 3087, 12th Congress of the Republic |
| FULL TITLE : AN ACT CRIMINALIZING MONEY LAUNDERING ACTIVITIES IN THE PHILIPPINES AND PROVIDING PENALTIES THEREFOR |
| ABSTRACT : This bill which seeks to punish and eradicate anti-money laundering activities in the country - implements the declared policy of the State to provide the necessary legal and policy environment for the domestic and international markets to enable the government to protect and promote legitimate business capital and interests and enhance the flow of legitimate financial transactions in the country. It is consistent with objectives of government to punish economic crimes and those who benefit from the proceeds of these economic crimes - all these as a significant step to protect and safeguard the integrity of our financial system. |
| PRINCIPAL AUTHOR/S : DEL MAR, RAUL V. |
| DATE FILED : 2001-09-19 |
| SIGNIFICANCE: NATIONAL |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-09-27 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON ECONOMIC AFFAIRS, JUSTICE |
Abstract
This bill which seeks to punish and eradicate anti-money laundering activities in the country - implements the declared policy of the State to provide the necessary legal and policy environment for the domestic and international markets to enable the government to protect and promote legitimate business capital and interests and enhance the flow of legitimate financial transactions in the country. It is consistent with objectives of government to punish economic crimes and those who benefit from the proceeds of these economic crimes - all these as a significant step to protect and safeguard the integrity of our financial system.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.