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Several senators recently expressed disappointment over the failure of the Anti-Money Laundering Council to do its work in connection with the now-viral POGO hub in Bamban, Tarlac.
The senator said the AMLC’s monitoring was “very weak,” this despite several government measures aimed at removing the Philippines from the Financial Action Task Force Grey List, a roster of countries recognized for their weak anti-money laundering measures. Several months ago, both the Securities and Exchange Commission and National Telecommunications Commission banned certain investment platforms for being unregistered in the country, aimed at protecting Filipino investors.
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