AMLC debased under Aquino

Set up in 2001 during President Gloria Arroyo’s term, it is only under President Benigno Aquino that the Anti Money Laundering Council (AMLC) along with  its secretariat has been debased into a political weapon. The council has also failed to justify its raison d’être as proven by the fact that we have become the preferred site for a quick money laundering operations, the world’s dirty-money haven, as the Agence France-Presse put it.

Unfortunately, Aquino’s ineptness seems to have rubbed off on the AMLC Chairman Amando Tetangco, first appointed as governor of the Bangko Sentral ng Pilipinas by Arroyo in 2005, and reappointed by the incumbent President.