Quantcast
Latest Stories

Have a heart: Pia Cayetano makes case for women on V-Day

By

Senator Pia Cayetano. RYAN LEAGOGO/INQUIRER.NET FILE PHOTO

MANILA, Philippines—Two weeks before Valentine’s Day, Sen. Pia Cayetano fought for the right of women to receive “luxurious gifts” from their loved ones as she called on her fellow legislators to come up with a higher threshold amount for jewelry purchases before these are reported to the Anti-Money Laundering Council (AMLC).

Cayetano made the practical suggestion during period of amendments to the proposed bill increasing the crimes and transactions covered by the country’s antimoney laundering measure.

Cayetano wants the threshold amount to be higher than the proposed P500,000 for dealers in precious metals and in precious stones to be mandated by law to report the transaction to the AMLC.

“Allow me to speak as a woman. I don’t buy myself expensive jewelry. In fact, I like semiprecious stones. I like what you may call junk jewelry to be perfectly honest. But if a man were to give me jewelry I want it to be seriously good,” Cayetano told her colleagues.

 

No less than P.5M

“And so in my case, being a public official, it’s like telling me that I have to limit myself to something less than P500,000 so that my gift won’t be reported. I’m making light of this gentlemen. But that is the situation that you put somebody like me,” she said.

This developed as the Senate, with a proposed amendment by Sen. Ralph Recto, removed tax evasion from the bill’s proposed list of predicate crimes that would necessitate monitoring of bank accounts by the AMLC.

It maintained the bill’s provision on casinos and Internet casinos being required to report to the AMLC but with the provision, proposed by Senate President Juan Ponce Enrile, that it should only do so “when there is suspicion of money laundering notwithstanding the transaction being covered.”

The bill was also amended so that real estate agents are no longer required to make a report to the AMLC. Real estate transactions, however, should be reported to the AMLC if the amount involved would be P25 million.

Cayetano said her issue also goes to daughters, who otherwise would be given pieces of jewelry by their fathers during special occasions like Christmas.

No special someone

Senate Pro Tempore Jinggoy Estrada, who was presiding over the session, then asked Cayetano whether there was still no special someone who would give her jewelry.

“I don’t have a husband and given that (threshold), perhaps nobody would give me a gift anymore,” Cayetano said.

Told by bill sponsor Sen. Teofisto Guingona III that the proposed provision doesn’t seek to prevent giving jewelry worth more than P500,000 but only requires a report to the AMLC, Cayetano said, “Who wants to report how much they gave me? Di parang pinresyohan mo ko nun (It was like you put a price on me).”

Asked what amount should be the threshold be for jewelry transactions, Cayetano said, “I ask the gentlemen here to be generous and think deep. No one has yet to give that kind of gift so I wouldn’t know. But it’s definitely not P500,000.”

“Let’s ask those who like to give these kinds of gifts,” Cayetano said.

Guingona said he expects the measure—the third of three Amla amendatory bills recommended by the Paris-based Financial Action Task Force—to be passed on Monday.

The Aquino administration is pushing for the bill increasing the number of predicate crimes and transactions covered by the Amla to prevent a downgrade of the country’s standing in the international financial community.

A downgrade would mean stringent, even restrictive, regulations imposed on international transactions to and from the Philippines. Aside from affecting investor confidence, it is also expected to affect remittances of Filipino migrants to their families.


Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: AMLC , Anti-Money Laundering Council , Jewelry , Pia Cayetano , valentines day




Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
  1. Henares on Pacquiao bashing: I did not start this
  2. ‘Mom, I love you,’ says text from student on sinking ferry
  3. ‘No real progress in PH if dynasties not dismantled’
  4. Massive infra spending set
  5. More legal woes for Cedric Lee
  6. Kim Henares needs a reprimand, says Cayetano
  7. Passengers denied chance to escape sinking South Korea ferry
  8. South Korea president shouted down by distraught parents
  9. Two Popes who would be saints
  10. Lacson’s wife loses diamond earring to thieves but recovers jewelry quickly with police arrest
  1. Kim Henares needs a reprimand, says Cayetano
  2. Suspect in Vhong Navarro mauling tries to leave PH
  3. More legal woes for Cedric Lee
  4. Fr. Suarez says last Mass on Easter before returning donated land to San Miguel
  5. ‘Mom, I love you,’ says text from student on sinking ferry
  6. MH370 co-pilot made mid-flight phone call – report
  7. ‘No real progress in PH if dynasties not dismantled’
  8. I’ll follow my conscience on Estrada, says JV Ejercito
  9. Massive infra spending set
  10. OFW brings MERS virus to Philippines
  1. KL confirms Malaysian Airlines Flight MH370 ended in Indian Ocean
  2. MRT passengers pass the hat for 6-year-old Ashley
  3. Rookie, lady cops lauded for quick response to MOA heist
  4. Model Helena Belmonte wished ‘to slash her wrist and hope to die’
  5. Malaysia averts another air tragedy; pilot lands troubled plane safely
  6. Revilla says he was joking; Lacson stands by his story
  7. Revilla ‘consulted’ Lacson on how he evaded arrest
  8. Police rule out foul play in Helena Belmonte’s death as boyfriend is ‘traumatized’
  9. Cudia, dismissed for lying, got 99% in conduct
  10. Hammer-wielding robbers cause chaos at Philippines’ Mall of Asia
Advertisement

News

  • US teacher fired over comment on black president
  • Magnitude-7.5 earthquake shakes Mexican capital
  • Title of new Hillary Clinton book: ‘Hard Choices’
  • Filipinos, Dutch re-enact crucifixion of Christ
  • 14 killed in car bombing in Homs
  • Sports

  • Nadal ousted by Ferrer in Monte Carlo quarters
  • Pacquiao shorts in Bradley fight sold for P1.7M in LA auction
  • Ryu pitches Dodgers past Giants
  • Alonso sets the pace in Chinese GP practice
  • Heat seek Three-peat but Spurs, Pacers top seeds
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Myx TV premieres Asian American ‘docu-series’
  • A nutty finale for ‘Scandal,’ TV’s craziest show
  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Business

  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Barbie doll has a problem
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Las Vegas ‘Pinoy Pride’ fest hails Filipino heritage
  • Marking Jesus’ journey on Good Friday
  • Filipina accomplice arrested for fake bills in Malaysia
  • DoH denies Filipino nurse no longer positive for MERS virus
  • WHO warns vs spread of MERS-Cov, urges vigilance in taking precautions
  • Marketplace
    Advertisement