The AMLC continues to protect the integrity of the Philippine financial system pursuant to the Anti-Money Laundering Act of 2001, as amended; the Terrorism Financing Prevention and Suppression Act of 2012; and, just recently, the Anti-Terrorism Act of 2012. Allow me to go over some ongoing initiatives and projects by the AMLC and our partners from the public and private sectors. First.
Otherwise the disposal of non-performing assets would be nothing but transferring the risks from the “left pocket” to the “right pocket” of the government, which will invite criticism from the public. Second, the asset management companies have been established to handle the non-performing assets in a professional way.