[CLOSER LOOK] Strong law, corrupt system: How crime groups skirt money-laundering safeguards

If the government and citizens want to stop money laundering, the first step is ensuring the use of existing accountability mechanisms — and there are many — against the lords of this land

The Anti- Money Laundering Council’s appeal for new legislation to strengthen the crackdown on money launderers ignores the elephant at the center of current legislative investigations.

including Chinese national Hongjiang Yang, brother of Duterte’s economic advisor Michael Yang. These developments prompted Guo to flee the country. Guo sent hundreds of millions of pesos to family-owned QJJ Farm and QJJ Generics. These companies, in turn, used the money to pay for the power bills and other expenses of HongSheng Gaming Technology and its successor, Zun Yuan Technology.

Arpon says chasing after money-launderers is hard because the AMLC needs to establish that funds come from illegal sources and activities, and that subjects must have knowledge of this. In the case of the POGOs, blame should be placed on negligence or collusion by government and private sector frontliners.

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