Bill Type
Congress Name
Long Title
AN ACT CURTAILING THE ILLEGAL ACTIVITIES OF RACKETEERS AND POWERFUL SYNDICATES IN THE PHILIPPINES
Date filed
July 2, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 9, 12th Congress of the Republic | |
| FULL TITLE : AN ACT CURTAILING THE ILLEGAL ACTIVITIES OF RACKETEERS AND POWERFUL SYNDICATES IN THE PHILIPPINES | |
| ABSTRACT : "Racketeer-Infl uenced and Corrupt Organization (RICO) Act of 2001"> The purpose of this measure which is patterned after the RICO (Racketeers Influenced and Corrupt Organization) statute of the United States is primarily aimed at preventing the useof money and power by organized crime syndicates to subvert and corrupt legitimate business by facilitating the prosecution of and imposing stiffer penalties for criminal offenders. It penalizes, as a distinct crim, the act of LAUNDERING (which means to "transfer funds of dubious or illegal origin and later to recover these from what seem to be "clean"). | |
| PRINCIPAL AUTHOR/S : CRESPO, MARIO "MARK JIMENEZ" B. | |
| DATE FILED : 2001-07-02 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Rodriguez (013 ) | 2. Libanan (016 ) |
| 3. Espino (022 ) | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| COMMITTEE ACTION: change of cttee. ref'l from Public Order and Security as per J.21;p.20( dtd. Sept. 5,2001) | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-07-24 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON ECONOMIC AFFAIRS, JUSTICE |
Abstract
"Racketeer-Influenced and Corrupt Organization (RICO) Act of 2001"> The purpose of this measure which is patterned after the RICO (Racketeers Influenced and Corrupt Organization) statute of the United States is primarily aimed at preventing the useof money and power by organized crime syndicates to subvert and corrupt legitimate business by facilitating the prosecution of and imposing stiffer penalties for criminal offenders. It penalizes, as a distinct crim, the act of LAUNDERING (which means to "transfer funds of dubious or illegal origin and later to recover these from what seem to be "clean").
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.