MANILA: The Philippines must relax one of the world’s strictest bank secrecy laws so the government can crack down on suspected cash smuggling being linked to online casinos, Finance Secretary Carlos Dominguez said on Friday (March 6).
Congress should pass long-standing bills that would lift deposit secrecy in cases of fraud and to expand the powers of the Anti-Money Laundering Council, Dominguez told a press briefing in Manila on Friday.
Already a subscriber? Log in
Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.
