Philippine Top Court Rules Anti-Dirty Money Law Constitutional
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- Supreme Court upheld constitutionality of a law allowing Anti-Money Laundering Council to file with Appeals Court an ex-parte application to examine certain bank deposits and investment, according to copy of decision released Friday.
Alert: HALISTER1- Decision throws out petition by a law firm which sought to nullify section 11 of Anti-Money Laundering Act
- Court says provision doesn’t violate substantive due process as no seizure of property is involved in that stage
- Ex-parte inquiry shall be upon probable cause that investment or deposits are related to unlawful activity
Source: BFW (Bloomberg First Word)
To de-activate this alert, click here
UUID: 7947283