Amendments to the anti-money laundering act (AMLA) may help to reduce or prevent the incidence of cybercrime in the country’s financial system, according to the current president of Financial Executives Institute of the Philippines (Finex).
George Chua, who is also the President and Chief Executive Officer of Bayan Automotive Industries Corp., noted there has been clamor for the amendment of the anti-money laundering law to include previously exempted institutions.
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