Anti Money Laundering Act: Is it enough to deter dirty money?

• Main Authors: Park, Ji Hae, Lim, Amy Kate L.
• Format: text
• Language: English
• Published: Animo Repository 2016
• Subjects: Money laundering > Law and legislation > Philippines; Philippines Anti-money Laundering Act 2001
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/8432
• Institution: De La Salle University

Money laundering is a crime whereby the proceeds of unlawful activities are transacted thereby making them appear to have originated from legitimate sources. There are multifarious means of committing money laundering. In spite of the enactment of numerous laws that aim to deter individuals from undertaking such transactions, money launderers simply find new ways of cleaning their dirty money. This study will analyze the deficiencies of current Anti-money Laundering Act of the Philippines and if this acts adequately covers all the instances of money laundering situation. Furthermore, this study will compare the Philippine Anti-Money Laundering Act with other jurisdiction's law on money laundering. Aside from this, it will introduce different unlawful activities and covered institutions which must be included in the future amendment of Anti-Money Laundering Act.