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Sen. Arroyo stalls ‘dirty-money’ law changes

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Senator Joker Arroyo INQUIRER.NET FILE PHOTO

An attempt to hasten the Senate deliberations on the third set of amendments to the country’s Anti-Money Laundering Act (Amla) was side tracked before the Christmas break when one of its opponents moved that it be returned to the period of interpellation.

Taking the Senate floor on the last session before the congressional recess, Sen. Joker Arroyo stressed his opposition to the amendments, saying Philippine banks—unlike everybody else involved in the laundering transactions—are not penalized for accepting funds from dubious sources.

Senate Bill No. 3123 seeks to expand the covered transactions and to increase the predicate crimes that would necessitate inquiries by the Anti-Money Laundering Council.

 

Last set of amendments

It is the third and last set of amendments the Paris-based Financial Action Task Force wants included to keep the Philippines’ from getting blacklisted in the international finance community.

“[My] opposition to this bill is that there can be no dirty money laundered unless there is a bank that will accept dirty money,” Arroyo told his colleagues after asking why Committee Report No. 145 on Senate Bill No. 3123 was already in the period of amendments in the Senate agenda.

Arroyo was told that the senators’ staff, including his own, were asked if it was OK to move the measure from the period of interpellation to the period of amendments without prejudice to the lawmakers who still wish to pose questions.

Senators question the bill’s sponsor on the provisions of the measure during the period of interpellation while the lawmakers propose changes to the bill during the period of amendments.

 

Sparing the banks

“In short, dirty monies are deposited with banks, but our Amla law does not punish the banks for accepting dirty money. So they accepted dirty money and who is the one made liable? Everyone else except the banks,” Arroyo told his colleagues.

Arroyo said he has shown the bill’s sponsor, Sen. Teofisto Guingona III, a news report of the Hong Kong Shanghai Banking Corporation getting penalized by the US treasury and justice departments “to the tune of $1.2 billion.”

“That is almost P80 billion. That is the penalty for accepting dirty money. We do not have that here, there will be no money-laundering here if the banks do not accept dirty money. And then we will just forget it,” Arroyo said.

Arroyo had an outburst after he was told that a member of his staff gave what was supposedly his approval of the Senate moving the committee report on SB 3123 to the period of amendments.


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Tags: Amla , Government , Joker Arroyo , Legislation , Money Laundering , Senate


  • http://profile.yahoo.com/I4AI3RC6VZ5ZSHGN7WQGZVFITE Romeo T

    Tama naman ang matandang Arroyo, kahit na trapo ay nakakapag isip pa rin ng matuwid…..sang ayon ako na dapat managot din ang mga bangko, kung walang bangko ang tatanggap eh wala matatawag na “dirty money”

    • Isiplang

      Ilang araw willing kang maghintay na kilatisin muna nang bangko and source ng pera mo at idetermine kung dirty ba ito o hindi, bago nila tangapin and deposit mo.  Siempre maging mas accurate ang finding nila kung mas mahaba ang oras na ibigay sa kanilang investigation. Kung madaliin sila may posibilidad na makalusot pa rin and dirty money. Gusto ba talaga nating gawin itong patakaran nang bangko?

    • 12JEM

       Banks will make the determination  if money is dirty or clean?

  • AlexanderAmproz

    Decent countries have tough anti laundering law, 
    good enough to jail and sequester any assets of 99.99% Pilipino politicians,
    officials and Clergy
    on that point of view, Philippines is a rubbish country.

  • farmerpo

    Why would Arroyo want the banks to do the determination of dirty money? Their part is to report deposits in excess of a given amount. It is up to the government law enforcers/legislators to make the determination whether the deposit is dirty or clean. He is sidestepping the issues and he is doing it all wrong. From his point of view, the bank should, beforehand, determine or make a judgement and who are crooks and who are not…. hogwash..even the courts can’t do that.  The most a bank can do is to accept a deposit/withdrawal and report it to AMLAC if such exceeds a pegged amount. The banks should be penalized for failure to report and not for failure to make a judgment on what is dirty or not. Common sense lang po…chow. 

  • Gerald Abueva

    Aba aba aba, matalas pa pala ang pag-iisip ni Joker. Akala ko ulyanin na ang matanda. I support you.

  • anu12345

    Dapat kung sino ang mag-deposit ng dirty money ay bitay agad.

  • Joseph St John

     Sen. Joker Arroyo is right. Without banks being liable for accepting “dirty money” and punished for doing so the AMLC law is useless.

  • Joseph St John

    I’m glad we have Sen. Joker Arroyo who uses his intelligence and  common sense for objecting to proposed AMLC law without a provision to punish banks who accept “dirty money.

    • AlexanderAmproz

      This is already long time world wide standard excepted for few renegade countries, among them RP

  • http://twitter.com/erncastillo ern

    Joker is wrong. They are a depository….not a police organization. Are you out to kill the banks senator? One reason why banks in Switzerland thrive is because of their firm policy. Do you want banks to investigate the sources of money before they accept the deposit or transaction? O common, you are not helping….you are putting the banking system and this government down. You cannot even trace illegal sources and unexplained wealth (ie jueteng) and you want banks to do this job? Whether one peso or billions, if coming from illegal source should be treated the same way if you want a clean job. Will you accuse and kill a bank for a ten-peso dirty deposit?….enemies and competitors of the bank will do this dirty trick.

    If you are one in twenty who do not agree, there must be something wrong with your reasoning.

    • AlexanderAmproz

      What is your position about Corona fishy dollars accounts ?

      As everybody knows, almost every Politicians and officials have Dollars accounts,
      a world wide open secret !

    • boldyak

      all they have to do is ask the depositor the source of the big amount they are depositing…if the  source is suspicious they can report to amla…and it is amla’s responsibilty to invistigate, if the banks don’t report the said transactions, that indicates their irresponsible act and a penalty is required to force the banks to do their job…banks don’t do the invistigation, theuy just report suspicious transactions..simple

  • Chloroform

    for me, if the law wants to punish banks for accepting “dirty money”, the law should also provide banks the “tools” to determine beforehand which is “dirty money”…

    • AlexanderAmproz

      Are you naive, gullible or just  childish ?

      The whole world is stupid, the backwards the smarter’s ?

      Better to go down the coconut tree, its time since too long !

  • CPCook

    Why should a bank be punished for accepting dirty money? A bank does not have police power and therefore could not make a determination whether any money is dirty or not. As such, the duty of the bank is to report suspicious activities to the proper authorities such as AMLC. Should any bank willfully not report any suspicious activities, then such bank would be liable. Otherwise, it is the duty of the state through AMLC to make any determination of illegal activities and take appropriate actions. 

    Sen Arroyo, please cast your negative vote as you are wont to do with any (most?) of the initiatives of the current administration. You can also file your own bill to do whatever, but please do not stall this AMLC bill. This is very important especially to OFWs and those involved in trading activities.

    • AlexanderAmproz

      In E C, every amount over 10’000.-Euro is concerned

      the bank has to check the source of the money,
      no joke about it, it’s serious matters with serious penalties !

      Sooner or later, the Philippines Bank will have to follow the trend or
      to be excluded from the international money system, 
      no more international electronics money transfer.
      OWF remittances will have to be hand carry !

      Any payment going in or out of the country will have to be cash.

      A Sardonic laugh !

      PS: it remember me few years ago when the RP lawmaker had two weeks to pass the anti laundering Act, a law none gang’s wanted, but did it at once. A criminal country is advantageous for insider Gang’s, but when it is going international, the most “macho” criminals becoming dogs running away crying, the tail in-between the legs, if no tails, still crying, Enrile will be the first of them, even no tails, no legs !

      Philippines hope will come from abroad, hopefully

    • jaygibi

      kaya nga pino-propose niya na dapat maghigpit ang bangko at managot sila kung magkaroon sila ng kapabayaan… bobo!

  • parengtony

    Sala (mali, masama) ang arithmetic ni Mang Joker!

    On a more serious note, people are suspicious of Joker because:
    a) of his track record since he moved over to the GMA/Mike camp and
    b) his actions now (which he could have done earlier in the process) delays passing of the bill.

    2ndly, the case of HSBC ($1.2B penalty) is not a good analogy of the situation at hand.

    • wawa2172

      Sala at mali ang akala mo. Joker is a man who can survive in any political situation even if he belongs to the worse political party in the country like the GMA Lakas-Kampi. Joker is not related to GMA even if his family name is Arroyo. The old man is independent minded and criticized leaders including GMA if they make mistakes. He will retire in politics soon and we will miss him for his uprightness. Hindi siya turncoat tulad nang iba giyan na mabilis mag palit nang partido tuwing election. His analogy on HSBC is just perfect to support his opposition to the amendments. Ilan sa ating politico ang may nakatagong maruming pera sa banko, I would not be surprise if the banks went bankrupt if the AML will be implemented strictly.

      • parengtony

        1. $1.2B is equal to 80B pesos only if Joker has arbitrarily pegged the Fx rate at 67 pesos per USD.

        2.Joker never criticized Corona.

        3. HSBC violated already existing provisions of the US anti money laundering laws such as proper and timely reporting of suspicious transactions. These same provisions are already in current RP anti money laundering laws or proposed ammendments. In short, what Joker wanted added are provisions not found in US anti money laundering laws.

      • boldyak

        kung hindi nireport ng banko ang suspicious transactions, may penalty ba ang bangko kung matuklasan ng authoritry ang transactions na iyon?….nagtatanong lang dahil di ko pa alam…

      • wawa2172

        As reported ours is the only country that does not punish banks with regards to dirty money. The $1.2 B is a penalty that HSBC  has to pay for  violating the AML. Joker do not have to criticize Corona, what for? Joker was very consistent during the impeachment trial that banks deposits are protected by bank secrecy law. Of what purpose is a law when it would just be violated for political purposes. The law must be ammended/ He knows that no one working in the government have declared their bank deposits in their SALN, not even PNoy, GMA, Ramos and Erap. Joker wants to plugged the loop holes in AML dahil pweding gamiting palusot nang marami unless kalaban ka nang gobyerno. Its the rule to law that must prevail not political one. The case of Corona is still not done since he has to face the  regular court on cases filed against him. If the court find him guilty then so be it he must be locked in jail. Joker need not to criticize him so much, masyado nang marami ang pumupuna kay Corona.

    • jaygibi

      napaka-bobo mo…

      • parengtony

        cowardly

  • rauloreto

    nice move, time to put some responsibility to banks from their commerce. banks are enriching from all sources without nary a point of where their resources are coming from. they should be helping the country not only their profits.

  • http://profile.yahoo.com/GVAG7PUINWFIX37QAN75OAOIOU Lone Ranger

    Sen. Arroyo, does the bank have the power to determine whether deposits are dirty or not? If not, then penalizing banks for accepting money that is subsequently proven to be dirty by concerned authorities is ridiculous. You should propose changes to the bill during the period of amendments, instead of delaying it by continuing to interpellate without any suggestions on how to carry out your inane proposal. You are all talk, but no intelligent contribution. Just noise for media attention.

    • jaygibi

      kaya nga pino-propose niya na dapat maghigpit ang bangko at managot sila kung magkaroon sila ng kapabayaan… bobo!

  • http://profile.yahoo.com/JJQWTLMZH3NNIE2IJ46AOZAXAE Hannah Blake

    So, what else is new? What do you expect from this Joker? A Joker is a Joker always!

    • Uragorn

      Probably like you, I also do not like Joker Arroyo anymore since he switched to “the dark side”. However, did you actually read the article and understood what Joker is complaining about? I may not like him anymore but I think his proposal to penalize banks that accept dirty money is very sensible, don’t you think so?

    • boldyak

      mag-isip ka kung bakit gusto ni Joker na may penalty…okay lang na tawagin na Joker si Joker…ang hindi maganda kung ikaw ang lumalabas na Joker…

  • pabulaka

    I believe Sen. Arroyo is merely saying that if the money received by the Bank was proven dirty, it should be held liable. With liability, Banks will do their best to screen big deposits to prevent money laundering. There are procedures in Banks to control this type of deposit. Without liability, they will just drop any measures to catch laundered money. 

  • ztefertilizerscam9

    Jose PIDAL

    German bank account
    Rep. Alan Peter Cayetano claimed that a member of the Arroyo family maintained a bank account in Germany amounting to hundreds of millions of dollars.

    • jaygibi

      then cayetano should prove it otherwise its just hearsay.. mangmang!!!

  • Guest

    this is just right, the banks should report dubious transactions of their clients. coming from the banking industry they have the ability to trace this. any unusual transaction (out of the ordinary) from a client (i.e. sudden large volume of money being transacted, not in pattern) must be reported to AMLC. HSBC got fined because they didn’t bother to report these “large transactions” to the US’ AMLC. it’s not that banks should have police power, but they should be responsible to report it to the AMLC.  

  • GlenMJacob

    I agree with Sen Arroyo on this. The bank should be penalized.

  • basilionisisa

    actually, this usually a ‘joker’ senator is RIGHT. Smart thinking this time! Banks should be penalized if they do not follow strict (international) regulations on money laundering. it is quite surprising that this law has reached THIS stage with this question by Sen Arroyo unanswered. where were the ‘smarter’ Senators, how come it has passed them unnoticed? (may under the table kaya ang mga banks (na mostly owned by Chinese), kaya minamadali… hmm)

    because dito lang, ie money exchange, remittances, etc ay malaki na ang kita na gobyerno if banks follow international regulations, kaya dapat may penalty sila pag hindi sumusunod, eg if they are cutting corners for big customers who are trying to avoid/minimize tax.

    win-win sa government, either way. Good thinking, Sen Arroyo!

  • where_I_stand

    Sen Arroyo is correct. The bank must be penalized, too, for accepting the dirty money. It means that the bank must be extra careful in accepting huge yet devious amount and report the same to the AMLC.

    • pilipino

      Are you really punishing the bank or the bank teller? The bank is just the depository, it is the bank teller who accept and approve the deposit. Joker’s thinking here is somewhat flawed.

      • http://profile.yahoo.com/NTGXTMIGLOPFRZUAYFTHILYR24 yahoo-NTGXTMIGLOPFRZUAYFTHILYR24

         such a shallow interpretation!

      • pilipino

        Shallow interpretation? If you were the bank, do you have the ability to detect those deposits done using the SWIFT code, if they came from dirty sources or not? Your bank will only notice them when they are already part of your cash deposits!

        Or do their tellers have the ability to determine the source of funds for those deposits done through checks? You also have to look into the practicality in the enforcement of such a proposed insertion of Joker.

        Money launderers can register a hundred corporations and these corporations can open at least a corporate savings/checking (ATA) auto-transfer accounts in every branch that they want and limit the daily transaction to P498,000 or lower to these accounts to evade the AMLC radar (threshold amount is P500T), regardless if the money is from dirty sources.

        A hundred different accounts holding say P100M each is P10B, but you can’t detect them especially if these corporations are paying correct corporate income taxes diligently.

        This is what this Joker should look into!

      • AlexanderAmproz

        Did you are an IDIOT ?

        Wake up and have a look by the world ten least corrupted countries, a Bank could be definitely closed for the actions you are saying.

        Why do the ten least corrupt countries have the best quality of life and the Philippines among the worst ?
        Even its on of the wealthiest !

        Thank’s short minded like YOU !

      • pilipino

        Please allow this humble idiot to stretch your imagination further (tranlation: help you get my point).

        A crooked politician who is heavily involved in jueteng in his province makes P10M a month, but that money is illegal and he wants to launder it.

        So he opened 20 small town lottery (STL) sanctioned by the PCSO, and declared a bloated sales revenue complete with all the valid receipts to be able to declare a net income after tax of around P250,000 each, monthly. And that is perfectly legal, every centavo of taxes is promptly remitted to the BIR, without telling anybody that their actual revenue monthly is only P2,500 and the rest of the money is from the jueteng operations.

        These 20 STLs at P250T a month which makes a total of P5M, and this P5M monthly is deposited to a single bank account because the 20 STLs are owned and operated by a single family corporation.

        But he still got another P5M to be laundered (washed clean), so he would go around some favorite casino around town and splurge/play with his P5M each month. He wouldn’t bother if he would lose half million on one night because he can always gain some more in some bacarat game. After winning some and losing some, his P5M became P3.2M (P1.8M losses) but his P3.2M is now clean and he would deposit that in his personal account in the bank nearest to his favorite casino.

        So that makes a total of P8.2M out of the P10M that’s made into clean (laundered) money now deposited in the bank – legally.

        So how would Joker’s proposition stop this! Because the money deposited is technically and legally clean already – it is derived from a legal operation of 20 STL outlets that have been getting good sales from patron bettors and the rest are from his winnings from killing time in the casino.

        And he can invest that P8.2M to buy government bonds and treasury bills, and the government has no legal reason to stop him from doing that. Even Joker’s proposal cannot.

        Try to accuse this guy of money laundering and he can sue you for several criminal and civil offenses against his person.

        Not to mention the other legit businesses like the hardware outlets, restaurants, beer gardens, etc as added smokescreens. He has been in the news lately.

        Please suggest to this idiot what you think you can do. Al Capone was pinned down because he did not pay the right taxes, but this guy made sure that taxes are correctly assessed and remitted promptly, thanks to his smart accountant.

        Any idea, smart guy with a perfectly bad english?

      • AlexanderAmproz

        Tray it in Europe, 
        you will see how long it takes to be jailed.May I remember you that European Casinos are under strict control to avoid money laundering, in case you won a lottery, an official receipt is required. Anyway the problem is within the government officials and lawmaker’s love for crimes and criminal money, Enrile, Binay, Estrada’s Ltd, Palparan, Ecleo, Singson’s Ltd, Arroyo’s Ltd, Ampatuan”s Ltd, an endless list, internationally despised, today the world is global, this drunk obsolete Plutocracy forget it, the End is at sight.

        Crooks and criminal will always exist, but a criminal government a adpting the laws on purpose, it will not last… Hopefully

        PS: Shabu turnover is 800 Billions only

      • antonioluna

        seryoso po ba yung comment nyo? or nag jo-joke ka lang?

      • $20722540

        ang action na ginawa ng empleyado ay sagutin ng bangko or any other corporation…hindi teller, kasi yong teller parang representative ng bangko or acting in behalf of the bank.  the teller can be sanctioned internally but externally it’s still the bank’s responsibility

      • pilipino

        Precisely yes. I am just using the ‘teller’ issue to emphasize my question of how the bank can really implement Joker’s proposal, because before you penalize the bank through a law, you should also make sure that that specific provision in law is not almost impossible to implement. It is easy to cite similar provisions already implemented effectively in other modern western economies, but that is the source of my concern because our economic activities is not yet intricately wired and seamlessly interconnected like those in advanced economies so that is is still hard to detect dirty money.

        For example, how do you detect dirty money from prostitution dens operated on the entire top floor of a seemingly wholesome budget hotel. The money from such operation is funneled to and receipted by the budget hotel and made to appear as legitimate room booking receipts? That money goes to the bank as their regular legitimate deposit. How can you fault the bank for that? Banks are not into the espionage business. Joker should go beyond making himself a joke in the Senate!

      • $20722540

        at the end of the day, if it can be done in other countries there is no reason why it can’t be done here.  something has to be done.  its not going to be chicken and egg issue forever

  • regie

    correct..kailangan merong managot na bangko pagka merong nag money laundering kasi actually hindi lang sila acoomplice dito eh, principal by direct participation kasi hindi lang sila neccesary kungid indispensable. without them wlang money laundering….

  • nice_boy

    BSP imposes a know your customers rule.  Thus, when a bank accepts deposits from individuals using fictitious names without checking the authenticity of the identification papers presented, it may be guilty of abetting money-laundering.  I agree with Sen. Arroyo.  Penalized the banks.  Without their help or negligence, no money-laundering can happen.

  • catmanjohn

    A great German military tactician once stated. “The greatest enemy of a good battle plan is a Perfect battle plan…,”. With such advice in mind, one has to question Senator Arroyo’s real motives. Anyone like him who has supported thieves like Gloria Arroyo, and Corona must be scrutinized. With the cunning guile and deceit of the Devil himself, Arroyo could be masquerading as the proponent of stricter laws against banks, while actually be motivated by protecting cronies who have stashed their ill gotten wealth into these banks, thus trying to create a perfect overreaching bill that will Not pass. 

    • jaygibi

      its just your malicious and moronic thinking…

      • catmanjohn

        To support the anti corruption campaign is not malicious. Not to question the deceit that this group has perpetrated upon the Nation would be moronic, unless you are part of that corruption machine.

      • AlexanderAmproz

        Only insider, like him, can measure the disaster done, the unfathomable criminal burden done, a mass murder plus the total destruction of the country, the polluted watersheds included ! ! !

        Heavy Polluted

        Even 20% of the Children’s have twice too much blood leaded, its mean all of them have too much of it in different percentages, this heavy metal is blocking brain development !

    • Bli tz

      highly possible. if the joker is successful in derailing its finality, then it is somehow coincident that people from the other camp is dying hard to petition the SC to stop its case against the thieves.

      though it is acceptable that anyone taking part of the loot should be included to be penalized, joker’s timing is planned. camouflaged as “yeah, he’s right and it should be” thing, let’s not forget that he is also wise in his own conceit.

    • boldyak

      ang layo ng napuntahan ng pag-iisip, hahaha

    • AlexanderAmproz

      For him it’s the last minutes before sun set for redeeming is life time family guilt.

    • Diepor

      I thought the Germans lost the wars.

      • catmanjohn

        Prussian Field Marshal Clauswitz help strategize the Duke of Wellington’s defeat of Napoleon at Waterloo, thus it was determined then that the world would speak English.

      • Diepor

        The reason English has spread is because in the 19th century, the British Empire controlled much of Africa, India, Australia, and China. Their officials spread the language to the native populations

      • catmanjohn

        Let’s get back to fighting corruption in the Philippines…

      • Diepor

        Its a lost cause.

  • Isiplang

    Ilang araw willing kang maghintay na kilatisin muna nang bangko and source ng pera mo at idetermine kung dirty ba ito o hindi, bago nila tangapin and deposit mo.  Siempre maging mas accurate ang finding nila kung mas mahaba ang oras na ibigay sa kanilang investigation. Kung madaliin sila may posibilidad na makalusot pa rin and dirty money. Gusto ba talaga nating gawin itong patakaran nang bangko?

    • Isiplang

      Or dapat ba macontento na tayo, at si Joker, sa ginagawa ng mga bangko ngayon na ireport lang sa AMLC and mga kahina-hinala na deposit na natangap nila.  

  • pilipino

    Is this move to stall the amendments intended to benefit another Arrovo? How would the banks know if such money being deposited is a laundered one? In fact, the AMLC is constituted by Law to examine, determine and collegially decide which suspected bank account is from laundered money or not, the banks are only required to alert the AMLC. Money have the same color, laundered or not. Gagawin pang manghuhula ni Joker ang teller! This is non-sense.

    The banks should only be penalized if they failed to report to the BSP and AMLAC those accounts that fall into the suspected account category as clearly specified by the AML Law.

    Ang teller ang kawawa nyan pag nagkataon because if I were the Branch Manager of a bank, I can always issue a stern memo to all tellers and cash section supervisor to be extra cautious and to never accept any deposit, cash or checks, that are derived from money laundering; and any act to the contrary shall be punishable with immediate dismissal and the filing of appropriate civil and criminal cases and other applicable administrative penalties for unfairly exposing the bank into such potentially damaging criminal act.

    That memo can be a good legal excuse. But that is unfair to the tellers because how would they know if the money came from good sources or not, lalo na kung cheke ang idenideposito?

    Bagay kay Joker mag bank teller, kasi tingin nya sa sarili niya magaling siyang TELLER – telling which peso bill and coins is from evil sources or not.

    • Felipe Torres

      Tama ka diyan bok.  How will the teller know if it is dirty money? Kasi madumi ang pera. Eh talagang madumi ang pera. Pulos germs.  I think this is just another delaying tactic of Jokerito para ma-atraso ang pagpasa ng bill.  Duda na nga ako na baka maraming perang binanlawan ang batang ito. Iba talaga magbiro

    • $20722540

      sa tingin ko hindi na yan dumadaan sa mga tellers…siempre mga special accounts na yan or ang tawag at vip accounts…kaya hindi na yan issue.  ang sinasabi lang ni joker at dapat ang mga banko sa pinas any maging responsible enough to the extent na dapat mapenalize sila at bagbayarin…ano masama doon?

      • http://twitter.com/erncastillo ern

        imposible yang gusto nyo. paano ang online transactions? Magkakaroon ng sariling investigation ang bangko sa lahat ng transaction? Anong vip account?…meron bang ganun?

      • $20722540

         sorry di mo alam?

    • AlexanderAmproz

      @pilipino

      What an IGNORANT comment, what are you trying to do ?

  • noelpdavid

     YES! There is always a source of the problem,and on this issue (money laundering) the source is the bank. to solve the problem stop it from the very source. To have a law that will penalized the  bank engaged in act of money laundering is a Must. And to sharpen it further the bank has the option to accept dirty money but must report it immediately to the government. this is to discourage any attempt to launder dirty money. Go Mr. Senator, no further joking. . .

    • Isiplang

      Even without Joker, the banks are already required, by existing rules, to report to the AMLC all suspicious deposits, and accordingly penalized for failure to do so. Where else do you wish Joker to go from here? But joke.

      • noelpdavid

         Basalang sa article tapos Isiplang.

      • Isiplang

        Joke joke joke :-)

      • AlexanderAmproz

        The joke’s is the pity state of the country, a population drown in hopelessness suffering Hell and dying, very funny indeed ?
        Did you are Chinese ?

      • tarikan

        “Did you are Chinese?” Aamproz, I thought you’ve been around the world? “The joke’s is on you.” Do you have another language like Urdu? 

      • AlexanderAmproz

        Half Tausug half Igurot

  • ardong

    Bingo! It takes two to tango. Despite his age, Arroyo is still senile to give the best picture why money laundering still persist in this country. Getting the biggest slice of the cake among well-known “money launderers ” wooed big commercial banks to consider taking the whole tranche of the loot. Usually, they’re the ones who employ the “necessary banking creativity” to hide the transaction from the Bangko Sentral. Long overdue they should be heavily penalized!

    • AlexanderAmproz

      This is one major pillar of corruptions, banks deserved the biggest penalties as they are one of the main thief’s partners. 
      For banks, to be cautious with Officials and Politicians should be obviously their main task and duty. 
      The impact of the corruption on the country is much worst than ANY CALAMITIES, it’s killing hundreds of thousands yearly, the weakest at first, Children’s. 
      This is the Philippines main source of DEATH and IGNORANCES, books and schools health services, roads and bridges as well for any infra-structures, are turned into corrupt fat accounts. 
      The main source driving fifty millions in abject poverty to give free hands to  for Minings, loggings, Shabu, Private and Official Armies terrors, including the World most corrupt Generals. So corrupt in fact, it’s a bear foot army without materials and infra structures, only rampaging left, putting the whole country in dangers, from criminals(themselves) and from China laughing to have to face them.
      Corruption has destroyed the lands, seas, the Nature and finally the Peoples.

      The Clergy attitudes is highly shocking, instead to react against, they became dancing partners, against their duty, Partners in children’s death and sufferances, sufferances of the most innocents, I have no words for that. In fact they are pillar of the “system”, enjoying it, giving fake morals lessons with Condom and divorce, escaping taxes, they are the Devils of the country.

      • tarikan

        Ha? What did you say? 

  • https://me.yahoo.com/a/hbRkpPw1oYTBJamz.EH7acMZBBVoIlWXriA-#e4348 Felix

    Dapat alisin ang bank secrecy law kung talagang gustong mahuli ang mga money launderer. Paano huhulihin ng banko ang money launderer kung sila mismo ang money launderer? Bakit nila erereport ang sarili nila sa amlc?

  • ztefertilizerscam9

    Why only now? ang dami ng nanakaw ng mga Arroyo,Corona and many more politician.

    • boldyak

      huh!…napunta na naman kay GMA ang istorya?…hahaha…

    • antonioluna

      naks, typical yellow zombie comment hehe of course, si GMA may kasalanan nyan!

    • eleazar66

       nakita mo na ba ang ninakaw in arroyo? Why only now? its better late than never para makita na kaagad kung saan nilagay ni aroyo ang nakaw niya o baka natakot kayo na ang nakaw mo ay makita na rin

  • boldyak

    the title of this news is to misinform the public….Some senators want to skip some process in making laws…tskkk..in the end we have laws that are useless…

  • Chloroform

    I am naive and childish… actually there is no coconut tree in our farm, i used to climb mango trees to get a signal for my phone…. peace

  • Chloroform

     am naive and childish… actually there is no coconut tree in our farm, i used to climb mango trees to get a signal for my phone…. peace

    • AlexanderAmproz

      @Chloroform

      Sorry, what I said is unfair, useless provocative, but you should open your eyes !

      Probably I have some advance on you, rooming around the World since many years.
      Visited and stayed in almost every countries, North to South, East to West, meeting the wealthiest and the poorest, the Capitals Cities, every major museums, the natives in the bush.
      Used to have access to top scholars, any kind of books always available,
      easier for me to take a flight than a bicycle.

      Its gave me the opportunity to have a modest over sight view.

      About money laundering, I was member of the board of a small Finance Company in the strictest country, can’t swallow any bulbula about it !
      I am only an old monkey knowing all the tricks, even trees and mountain climbing spiderman style, diving like a fish.

      • Diepor

        I don’t believe you have been around. Then why would you have this old fashioned moralistic view on using condoms or for a abused wife to get an divorce. Liar .

      • Diepor

        Sorry if I got it wrong, but it sounds like you only read fiction like the bible.

      • Diepor

        Sorry, I got it wrong. I agree with your statements. Sometimes I read things to fast.

      • http://profile.yahoo.com/F3MQCMLOZ2KRHSIYGCJ7FSO2DQ Juan

        putrah paligasahan sa englishan ah hahahhah

      • tarikan

        Roaming around the world and still you write like that? Did not improve?

      • pilipino

        Kuya, pwede po bang paki-tagalog na lang po para mas madali ko pong maintindihan, mahina po kasi ako sa Inglesan e lalo na antas at uri ng Ingles nyo po. Monkey at spiderman lang po ang naintindihan ko e.

  • http://profile.yahoo.com/SYG36KOOLRY47VA3ICPJJ5CQTQ ADD

    After being disgraced for being GMA lackey, this one from Sen. Arroyo should be commendable.

    Why don’t make it somehow foolproof by removing bank secrecy law and not let Jose Pidal make another bank transactions. 

    • AlexanderAmproz

      Obviously correct ! ! !

  • kismaytami

    Ang tanong, paano gagawin ng mga bangko yung gustong mangyari ni mr. joker arroyo? Alangan namang tuwing magdedeposito ang mga kliyente sa bangko eh bubusisiin lagi ng teller, ok lang kaya mr. joker arroyo kapag nagdeposito siya eh tanungin siya nang “Saan galing itong perang ide-deposito mo?”

    Pero sa palagay ko nagde-delaying tactic lang itong matandang ito. In the first place naman kasi, hindi trabaho ng mga bangko ang magbusisi ng pinanggalingan ng mga deposito, trabaho yun ng AMLC.

    • mund_gulid1994

       exactly…..all deposits must be presumed coming from clean sources….if the banks will then strictly screen whether the funds being deposited are “not from illegal sources”, i think Sen. Arroyo would be credited for this….this would give second thoughts to corrupt officials whether to deposit to the banks their monies or stack them inside their houses which make them prone to “akyat-bahay” suspects and i would love reading in the news if they will become victims of these people someday..LOL!

      • eleazar66

         go joker go

  • Your_King

    The Senators and Congressmen and even the President should open their bank accounts for transparency as they forced Corona to do. We all know this won’t happen because they are all filthy rich.

    • $20722540

       ano pa nga ba?

      • http://profile.yahoo.com/X5TS3UOIZ6COTUWQRBY5ONG5BE Vilma Amon

         Have to pass FOI bill

  • https://me.yahoo.com/a/8fqPExc.w4Iam4xJvGcI.mhMioySuHxAuQ--#38882 roger

    BAKIT DAMING BOBO DITO.  THE BANKS ARE REQUIRED TO INFORM AMLAC WHEN THERE ARE 500,000.OO PESOS OR MORE IN EVERY TRANSACTIONS – IT IS THE AMLAC JOB TO INVESTIGATE IT – GETS NIYO

  • https://me.yahoo.com/a/8fqPExc.w4Iam4xJvGcI.mhMioySuHxAuQ--#38882 roger

    What is important is the enforcement of the mandate of AMLAC.  

  • http://profile.yahoo.com/X5TS3UOIZ6COTUWQRBY5ONG5BE Vilma Amon

    What about Banks in US and Switzerland where Sen. and Congressmen hide their loots.

  • Rolly257

    There should be a separate law to the culpability of the banks in relation to AMLA.
    Identifying the “Dirty Money” that Joker was talking about would take a while, so therefore, the amendment for this AMLA Law must be finalized as quickly as possible.

  • http://pulse.yahoo.com/_UA2YLCJLAQEVVGBTIZBHEGKB3Q jimmya

    The banks never question a depositor if the money to be deposited is laundered or not.  Doing so would make the bank an inquisitor.  AMLAC law is enough to oblige the bank to report money transaction as mandated and it’is the duty of the government/BIR to determine if its laundered or not and, I pressumed, we have enough law to punish money lauderers, specifically the BIR, to punish them.  AMLAC should be passed ASAP.

  • tukmoldinako

    the senator is trying to delay the AMLAC passage in time for them to hide every penny they have, plus the FOI , you have nothing more to see, just like that.

  • dorothyanne88

    Arroyo has a valid ground so this senate in session must iron it out ASAP to conform with standards negating this impromptu  backlash abroad thus a plus factor to our country which is beneficial to our economy.

  • tarikan

    Another year another loose nut for the Joker? 

  • http://profile.yahoo.com/BNH2EF27LQAVTR2GUP3FV5PLKY good muslim

    bakit ang laki 500,000.00..pesos. ang kailangan katumbas ng $10,000.00 U S D. dito sa U S if you withdraw or deposit $10,000.00 you will be reported to the F B I .money laundering task force. pero sana dito sa pinas ganuon din report to N B I anti laundering task force and to AMlac task force. 

  • disqusted0fu

    this is a good petition from Arroyo. another wise thing that the senate and even the house of representatives should do is to pass the FOI bill. this could eliminate all sorts of corruption including money laundering. it will also realize the straight path government. because now its looking more like a hoax.



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