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                    [Title] => Banks told to explain depletion of ‘frozen accounts’
                    [Summary] => Some banks are being asked to explain the depletion of the accounts of Price Richardson Corp. after these were ordered frozen by the Anti-Money Laundering Council (AMLC).


Sources from the Securities and Exchange Commission (SEC) told reporters that the Bangko Sentral ng Pilipinas (BSP) is now looking into reports that Price Richardson was able to withdraw money from its bank accounts despite the freeze order.


The source declined to identify the bank, but Price Richardson has several disputed accounts in Hongkong Shanghai Banking Corp., China Banking Corp. and Citibank.

                    [DatePublished] => 2002-02-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
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                    [ArticleID] => 147144
                    [Title] => Legarda urges critics: Give money launder law a chance
                    [Summary] => Senate Majority Leader Loren Legarda appealed to critics of the anti-money laundering law to give the measure a chance to work, saying only real test cases would allow it to prove its worth.


"The law is already in place. There is no need to push for changes this early. What government needs to do is quickly put the law through several test cases," Legarda said.


She said the Senate is not inclined to seriously consider any measure seeking amendments to the law, unless it has been certified by Malacañang.


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PRICE RICHARDSON CORP

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                    [ArticleID] => 149057
                    [Title] => Banks told to explain depletion of ‘frozen accounts’
                    [Summary] => Some banks are being asked to explain the depletion of the accounts of Price Richardson Corp. after these were ordered frozen by the Anti-Money Laundering Council (AMLC).


Sources from the Securities and Exchange Commission (SEC) told reporters that the Bangko Sentral ng Pilipinas (BSP) is now looking into reports that Price Richardson was able to withdraw money from its bank accounts despite the freeze order.


The source declined to identify the bank, but Price Richardson has several disputed accounts in Hongkong Shanghai Banking Corp., China Banking Corp. and Citibank.

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                    [ColumnID] => 133272
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                    [AuthorName] =>  Des  Ferriols
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                    [ArticleID] => 147144
                    [Title] => Legarda urges critics: Give money launder law a chance
                    [Summary] => Senate Majority Leader Loren Legarda appealed to critics of the anti-money laundering law to give the measure a chance to work, saying only real test cases would allow it to prove its worth.


"The law is already in place. There is no need to push for changes this early. What government needs to do is quickly put the law through several test cases," Legarda said.


She said the Senate is not inclined to seriously consider any measure seeking amendments to the law, unless it has been certified by Malacañang.


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abtest

Banks told to explain depletion of ‘frozen accounts’

By Des Ferriols | February 1, 2002 - 12:00am

Some banks are being asked to explain the depletion of the accounts of Price Richardson Corp. after these were ordered frozen by the Anti-Money Laundering Council (AMLC). Sources from the Securities and Exchange...

Business

Legarda urges critics: Give money launder law a chance

January 15, 2002 - 12:00am

Senate Majority Leader Loren Legarda appealed to critics of the anti-money laundering law to give the measure a chance to work, saying only real test cases would allow it to prove its worth. "The law is already...

Headlines