SC tightens rules vs money laundering | Inquirer News
Close  

SC tightens rules vs money laundering

/ 04:46 AM May 31, 2021
Legal community finds soothing reassurance in SC condemnation of attacks - groups

Screenshot of the Supreme Court main building

MANILA, Philippines — The Supreme Court has issued tougher regulations against money laundering offenses.

The high court has approved rules allowing bank inquiries and seizure of properties prior to the filing of information in relation to money laundering offenses. The new rules will take effect on May 31.

ADVERTISEMENT

“Recognizing the benefit of the preservation, seizure, and forfeiture of assets in preventing and restraining the commission of crimes or offenses penalized under the Anti-Money Laundering Act of 2001, as amended, and other penal laws, the Supreme Court recently approved … the Rule on Asset Preservation, Seizure, and Forfeiture in Criminal Cases Under Republic Act No. 9160 as amended,” the SC said. —Tina G. Santos

FEATURED STORIES
Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Anti-Money Laundering Act of 2001, bank inquiries, Money Laundering, seizure of properties, Supreme Court
For feedback, complaints, or inquiries, contact us.

News that matters. Subscribe now

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2021 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.