Estebal, Karen Fate M. Banking and Finance Institution Prof.

Christian Paul Agum

Siaga, Joshua P. MWF 10:00-11:00AM September 3, 2018

ARTICLE ANALYSIS

1. Discuss how could the Philippine’s Money Laundering (Philippine-Bangladesh laundering

case) woes Affect our overseas workers?

In February, $81 million stolen from the Central Bank of Bangladesh account at the
Federal Reserve Bank of New York it was laundered through the Philippines. Most
observes stressed over the security of the establishments included. However, similarly
if not more essential is the potential effect on overseas Filipino workers. Expanded
examination of vulnerabilities in the Philippines anti-money laundering provisions
could make it harder for the 10 million Filipinos working abroad to send settlements
home, as has happened in numerous other creating countries.

2. Should Casinos be exempted from tougher Anti-Money Laundering law? Explain your
answer.

 Yes, it should be exempted. In February, a tougher law against money-laundering

passed, but protected the governments bid to chase mega-dollars in Asia’s gaming
boom. The Senate and House or Representatives passed the amendments it can
apply to business other than banks and aim to stop the funneling of proceeds from the
criminal activity, as well as to block terror funding.

3. What are the current and existing laws of Philippines in addressing Money Laundering
such as above case?

 AMLC - Anti-Money Laundering Council

 AMLA – Anti-Money Laundering Act