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Edmundo Bombase Cea (June 10, 1911 – December 30, 1993) was a Filipino politician.. Cea was born in Tigaon on June 10, 1911 to Angela Bombase and Severo Fuentebella Cea. He was educated at University of Santo Tomas obtaining the degrees of Bachelor of Philosophy and Letters and Bachelor of Laws.
(Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.The Philippines’ loose law against money laundering and strict deposit secrecy rules risk ...
The law, coupled with a stable Swiss currency and international neutrality, prompted large capital flight to private Swiss accounts. During the 1940s, numbered bank accounts were introduced creating an enduring principle of bank secrecy that continues to be considered one of the main aspects of private banking globally.
The Bank Secrecy Act, the common name for the Currency and Foreign Transaction Reporting Act of 1970 and its amendments and other statutes, established the customer due diligence (CDD) rule as part of an effort to improve financial transparency and deter money
Bank licensing, which sets certain requirements for starting a new bank, is closely connected with supervision and usually performed by the same public authority. Licensing provides the licence holders the right to own and to operate a bank. The licensing process is specific to the regulatory environment of the jurisdiction where the bank is ...
Remedial legislation enacted in 2000, however, addressed these concerns and Non-Conviction Based Asset Forfeiture has become a standard part of law enforcement in the U.S., yielding US$1.5b annually in asset recoveries. While encouraged in UNCAC, adapting domestic law to create a legal basis for in rem recoveries is not required of state parties.
Three of the bank accounts, Estrade noted, were closed on December 12, 2011, the day Corona was impeached. [64] Senator Loren Legarda asked Tiongson on how the copies of the bank records were leaked; the latter denied divulging it to anyone but said that Quezon City representative Jorge Banal asked for her assistance. She said that Banal went ...
The Anti–Money Laundering Council (AMLC) is the agency of the Government of the Philippines that is tasked to implement the provisions of Republic Act No. 9160, also known as the Anti–Money Laundering Act of 2001 (AMLA), as amended, and Republic Act No. 10168, also known as the “Terrorism Financing Prevention and Suppression Act of 2012” (TFPSA).