Photo Release

December 9, 2020

Poe Sponsors Anti-Money Laundering Bill: Sen. Grace Poe, chairperson of the Committee on Banks, Financial Institutions and Currencies, sponsors Senate Bill No. 1945 which seeks to strengthen the Anti-Money Laundering Act during plenary session Wednesday, December 9, 2020. Poe underscored the importance of passing the proposed measure to avoid being placed in the “grey list” which imposes certain conditions on Filipino nationals and businesses that transact with their international partners. She said the Philippines will incur a ‘reputational risk’ that would result in reduced investor and lender confidence if it will fail to act on the bill. “We can only imagine the domino effect that this would trigger to all of our local industries,” Poe said during the hybrid plenary session Wednesday, December 9, 2020. (Screen grab/Senate PRIB)