The Palace is supportive of the Anti-Money Laundering Council’s efforts to effectively implement the Anti-Money Laundering Act (AMLA) because as Chief Executive of the government, the President is duty-bound to see to it that all laws of the land are implemented and that all government agencies execute their respective mandates. And ferreting out illegal funds and transactions is a mandate of AMLC.

Malacanang bucked today criticisms against the Anti-Money Laundering Council (AMLC) for freezing questionable bank accounts, saying the agency was just doing its job as mandated by law.

"The Palace is supportive of the AMLC’s efforts to effectively implement the AMLA (Anti-Money Laundering Act) because as Chief Executive of the government, the President is duty-bound to see to it that all laws of the land are implemented and that all government agencies execute their respective mandates," Press Secretary and concurrent Presidential Spokesman Ignacio R. Bunye said in a statement.

"Ferreting out illegal funds and transactions" is the job of the AMLC, he added.

Bunye was reacting to statements of opposition Sen. Panfilo Lacson questioning the council’s freezing of P1.2 billion suspected to be laundered funds.

AMLA, or Republic Act (RA) 9160, which took effect in 2001, states that "it is the policy of the state to protect and preserve the integrity and confidentiality of bank accounts and to ensure that the Philippines shall not be used as a money laundering site for the proceeds of unlawful act."

Bunye said Malacanang "recognizes and respects" the independence of AMLC and supports its mandate as the "country’s financial intelligence unit."

AMLC has frozen P1.2 billion in dubious bank accounts on suspicion of being dirty money or laundered transaction.

Under the AMLA, a transaction is considered "suspicious" if it involves at least P500,000 changing hands in a single banking day.

AMLA also requires banks and other financial entities to report to the AMLC all questionable transactions for appropriate action.

Press Secretary Ignacio R. Bunye welcomed today the arrival of experts from the European Union (EU) who are out to help the government investigate and solve the cases of unexplained killings in the country.

The team of EU experts is on a 10-day mission to provide technical assistance to help the government in the investigation and prosecution of the perpetrators.

"We welcome all well-meaning friends who are out to assist the Philippines put an end once and for all to this problem," Bunye said in a press briefing this afternoon in Malacanang.

"They have the expertise that we lack, and I believe this would be the opportune time to ask the representatives of the European Union for this type of assistance," Bunye added.

He cited the Philippines’ lack of a DNA (deoxyribonucleic acid) testing facility which could greatly help in the investigations and provide solution to the killings.

"Because, as you are probably aware, some graves have been discovered and some are in the process of being dug up and we will need DNA testing facilities with the assistance of the European Union," he said.

Malacanang has ordered all government agencies and corporations to seek approval from the National Economic and Development Authority (NEDA) Board before imposing new or increased fees.

Cabinet Secretary Ricardo Saludo said Memorandum Circular No. 132, signed by Executive Secretary Eduardo Ermita by authority of the President, covers "all departments, bureaus, commissions, agencies, offices and instrumentalities," including government-owned or-controlled corporations (GOCCs).

Citing "the thrust of the government to improve the country’s competitiveness in the global economy," MC 132 addresses concerns expressed by the business sector, especially exporters, over the impact of the strong peso on their ability to compete with foreign goods and in the world market.

The President’s instruction also comes after a recent World Bank report over big container shipment costs in the Philippines, said to be the highest in Asia.

The circular implements a Jan. 30, 2007 Cabinet resolution for all national government agencies and GOCCs to seek NEDA Board approval before raising fees or collecting new ones.