The Anti-Money Laundering Council’s report that the country is a haven for dirty money did not come as a surprise. The government was forced to pass anti-money laundering laws only after the country faced the threat of an international financial blacklist years ago. The weakness of campaign finance regulation makes this kind of money laundering relatively easy. The law imposes tough penalties on money laundering. What’s missing is enforcement, and the political will to launch a no-nonsense crackdown on dirty money.

Source: Philippine Star May 23, 2019 16:01 UTC