Homeland Security

Text: U.S. Welcomes Anti-Money Laundering Law in Philippines

(March 7 White House statement) (160)
Following is the text of a statement released by the White House March
7 on the passage of anti-money laundering legislation in the
Philippines:
(begin text)
THE WHITE HOUSE
Office of the Press Secretary
March 7, 2003
STATEMENT BY THE PRESS SECRETARY
Passage of Important Anti-Money Laundering Legislation in the
Philippines
The United States warmly welcomes the Republic of the Philippines'
enactment today of a law to strengthen protection against money
laundering. This law will be an important tool in the war against
terror, preventing criminals and terrorists access to the
international financial system. In a world in which terrorism and
criminality are so closely linked, strong anti-money laundering
regimes are more important now than ever before. We congratulate
President Gloria Macapagal-Arroyo and the leadership of the Philippine
legislature on this advance in the Government's program to reform the
economy, fight against crime and corruption, and stamp out terrorism.
(end text)
(Distributed by the Office of International Information Programs, U.S.
Department of State. Web site: http://usinfo.state.gov)