*EPF110 03/10/2003
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)

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