President says Philippines making strides against money laundering

Current eventTitle: President says Philippines making strides against money laundering. This article speak about Philippines is one of the most popular place to get money clean. It is refer as “the countries and territories considered to be money laundering havens.” Due to this rumor about Philippines being the money laundering haven “the country’s eight million overseas Filipinos workers that remit their money through the international banking system” are greatly effected. This is just creating an inconvenience for everyone to transport money because bank and the people themselves beliefs that their money would be the money cleaning the imported money. They Asia-Pacific Group (APG) want to stop this money laundering therefore since 2001 there are anti-money laundering law was enacted. APG has been form since 1997 in Bangkok because money laundering is effecting globally. It is a global treat for the money could be dirty. In the sense that the money is from selling of drugs, people or that of murder of someone that would make it unclean for the person did not really work for that money. That is what means by saying that the money could be dirty. Also, this would allow the person who is getting the money clean to continue their job for there is so much benefit that could come out to cleaning this money. Just like the broker receive a percentage of money from finding jobs for people well the same concept apply here. If the money is given to someone to get it laundering they may benefit from receiving a percentage of that money. Back to the article the money that is laundering is allowing terrorist to continue. Just as selling of weapon to country at world illegally that money has to come from somewhere therefore it must be clean. By money laundering her are victims of swindling and fraud. For one does not volunteer to launder of money for there are laws against it. This could happen anywhere not just in Philippine.Lo Romero, published by Philippine newspaper, July 4, 2006http://blackboard.uncg.edu/webapps/portal/frameset.jsp?tab=courses&url=/bin/common/course.pl?course_id=_58942_1