The Philippines’ removal from the Financial Action Task Force (FATF)’s grey list should bring in more jobs as investors become more confident in putting their money in the Philippines, former Sen. Panfilo “Ping” M. Lacson said Friday.
Lacson also credited the passage of the Anti-Terrorism Act of 2020 and the strengthening of the Anti-Money Laundering Act – which he authored, co-authored and/or sponsored – as well as the total ban on Philippine Offshore Gaming Operators (POGOs) for the removal from the grey list.
“When we are removed from the grey list, investors should become more confident in doing business here. Also playing a big role are the Anti-Terrorism Act’s provisions on terrorist financing and Anti-Money Laundering Act,” he said in Filipino, in an interview on Bombo Radyo.
“All these combined, plus the ban on POGOs, all had a role in our removal from the FATF grey list. And the positive effect is that investors are now more confident putting their money here,” he added.
Related: Ping Lacson: Dadami ang Trabaho Ngayo’y Wala na Tayo sa FATF Grey List
Lacson had authored and/or sponsored laws and amendments of laws such as the Anti-Money Laundering Act; An Act to Further Strengthen the Anti-Money Laundering Law; and the Anti-Terrorism Act of 2020, whose provision on terrorist financing strengthened the anti-terror legislative ecosystem.
In strengthening the AMLA, Lacson had the threshold amount brought down from an unrealistic P4 million to P500,000.
All these, he said, are part of his advocacy to “go after dirty money and punish those responsible for having our country tagged as a haven for criminal elements involved in financial crimes and other related criminal activities.”
Meanwhile, Lacson reiterated that proper implementation of our existing laws against money laundering and terrorist financing, further measures like excluding public officials from the Bank Secrecy Act, and consistency in efforts to combat corruption, are needed to sustain our gains.
“We already have the laws in place. Consistency in implementing them is the key,” Lacson said.
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Ping Lacson: Dadami ang Trabaho Ngayo’y Wala na Tayo sa FATF Grey List
Inaasahang dadami ang trabaho sa Pilipinas ngayo’y wala na tayo sa grey list ng Financial Action Task Force (FATF) dahil mas maraming negosyante ang magkakaroon ng kumpiyansang mamuhunan sa Pilipinas, ayon kay dating Sen. Panfilo “Ping” M. Lacson ngayong Biyernes.
Dagdag ni Lacson, malaking bagay din sa pag-alis natin sa grey list na may batas tayo tulad ng Anti-Terrorism Act of 2020 at pinalakas na Anti-Money Laundering Act – kung saan siya ay may-akda o sponsor – at pati na ang total ban sa Philippine Offshore Gaming Operators (POGOs).
“Pagka nawala tayo sa grey list, siyempre ang investors magkakaroon ng kumpiyansa. Malaki ang naitulong ng probisyon sa terrorist financing na nakapaloob sa ATA 2020 at mga ibang batas, ang Anti-Money Laundering Act,” aniya sa panayam sa Bombo Radyo.
“Kung pinagsama-sama ito, pati ang pagkawala ng POGO, malaking bagay din yan kaya tayo natanggal sa grey list. Ang positibong epekto talaga nito magkakaroon ng kumpyansa ang investors at papasok sa Pilipinas,” dagdag niya.
Si Lacson ang may-akda at/o sponsor ng batas o pag-amyenda sa batas tulad ng Anti-Money Laundering Act; An Act to Further Strengthen the Anti-Money Laundering Law; at Anti-Terrorism Act of 2020, na ang probisyon laban sa terrorist financing ang nagpalakas sa anti-terror legislative ecosystem.
Sa pagpalakas sa AMLA, pinababa ni Lacson ang threshold amount mula P4 milyon sa P500,000.
Aniya, kasama ito sa kanyang adbokasiya na ipagbawal ang “dirty money” at parusahan ang mga sangkot sa “financial crimes and other related criminal activities.”
Samantala, iginiit ni Lacson na ang tamang pagpapatupad ng ating batas laban sa money laundering at terrorist financing, mga batas tulad ng pag-exclude ng public officials sa Bank Secrecy Act, at consistency laban sa katiwalian, ang kailangan para ipagpatuloy ang kabutihang dulot sa pag-alis sa grey list.
“We already have the laws in place. Consistency in implementing them is the key,” aniya.
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