The White House, President George W. Bush Click to print this document

For Immediate Release
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.

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