MANILA, Philippines — President Rodrigo Duterte on Friday signed into law the measure seeking to strengthen the Anti-Money Laundering Act (AMLA).
Duterte signed Republic Act No. 11521, which seeks to amend the Anti-Money Laundering Act of 2001.
Among the salient amendments of the law include granting the Anti-Money Laundering Council (AMLC) power to issue subpoenas and investigate “suspicious transactions.”
The law also granted AMLC additional power to “preserve, manage, or dispose assets pursuant to a freeze order, preservation order, or judgment of forfeiture.”
Further, it included Philippine offshore gaming operators and their service providers among the co…
Keep on reading: Duterte toughens PH’s anti-money laundering law