Philippines joins anti-money-laundering network

The Philippines' Anti-Money Laundering Council (AMLC) has been admitted as a member of the Egmont Group, a global network of financial intelligence units that tackles money-laundering, the central bank said.

Central bank officer-in-charge and deputy governor Amando Tetangco said the AMLC's admission makes the Philippines an equal partner in the global fight against such crime and is a recognition by Egmont members of the Philippines' effective implementation of an anti-money laundering law passed

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