Manila, April 14 -- The Philippines has underscored the need for member-states of the Association of Southeast Asian Nations (ASEAN) to share their efforts and initiatives in deterring money laundering schemes, which have been proven to be among the primary tools being used to fund international terrorist activities.
Finance Secretary Carlos Dominguez III said in a statement on Sunday that on the part of the Philippines, its enactment of Republic Act 10168 or the Terrorism Financing Prevention and Suppression Act of 2012 represents the country's firm commitment to fight global terrorism and its financing.
Dominguez said criminalizing terrorism financing under RA 10168, has strengthened the Philippines' efforts to trace and freeze funds us...