Knowledge Commitment Action Against Corruption in Asia and the Pacific
Asian Development Bank | June 2006
Abstract
The Philippines has statutes ensuring the stability of its financial system, including the secrecy of bank deposits. Foreign countries have similar statutes for that purpose. Corrupt Philippine officials have taken advantage of these domestic and foreign laws to conceal, protect, and spirit away their ill-gotten wealth, and later launder the proceeds through seemingly legitimate investments. The identification, seizure and confiscation, transfer, and disposition of the ill-gotten wealth in favor of the Philippine Government demand international cooperation, especially from the competent law enforcement and judicial authorities where these ill-gotten wealth are located. Bilateral treaties provide an effective legal framework as to the mechanics for this cooperation. The passage of an anti–money laundering law by the Philippines has boosted the anti-corruption initiatives of the Office of the Ombudsman in its domestic investigations and prosecution. Further, the ratification and implementation of bilateral and regional MLATs would ensure the placement of mechanisms to detect, trace, seize, confiscate, transfer, forfeit, and dispose, in favor of the Philippine Government, wealth unlawfully accumulated by its corrupt officials. Finally, to ensure a successful and sustained anti-corruption campaign that would cut through international borders, the competencies of Philippine anti-corruption investigators and lawyers must be upgraded to equip them with the knowledge and legal skills to use the various MLATs and other treaties vis-à-vis the anti-corruption and anti–money laundering laws of other states.
Citation
Asian Development Bank. 2006. Knowledge Commitment Action Against Corruption in Asia and the Pacific. © Asian Development Bank. http://hdl.handle.net/11540/2953. License: CC BY 3.0 IGO.Print ISBN
971-561-604-6
Keywords
Governance
Good Governance
Governance Approach
Governance Capacity
Governance Models
Governance Quality
Regional Policy
Regional Perspectives
Regional Government
Regional Development
Business Management
Institutional
Framework
Business Ethics
Regional Plans
Project finance
Development Bank
Bureaucracy
Cabinet system
Common good
Executive power
Government
Separation of powers
Transparency in government
Show allCollapse
Citable URI
http://hdl.handle.net/11540/2953Metadata
Show full item recordUsers also downloaded
-
CAREC Transport and Trade Facilitation Strategy 2020
Asian Development Bank (Asian Development Bank, 2013-10-24)The Central Asia Regional Economic Cooperation (CAREC) Transport and Trade Facilitation Strategy (TTFS) was refined to account for changes in the CAREC Program since 2008, particularly expanded membership and the new strategic framework (CAREC 2020). The refined strategy also reflects lessons learned during the initial phase of implementation, aiming to more efficiently and comprehensively achieve ...The Central Asia Regional Economic Cooperation (CAREC) Transport and Trade Facilitation Strategy (TTFS) was refined to account for changes in the CAREC Program since 2008, particularly expanded membership and the new strategic framework (CAREC 2020). ... -
Annual Report 2014: Operational Data
Asian Development Bank (Asian Development Bank, 2015-01-01)The page has additional information for the ADB Annual Report 2014. In 2014, the Asian Development Bank (ADB) approved $22.93 billion in development assistance, including $13.69 billion financed by ADB’s ordinary capital resources and special funds, and a record $9.24 billion by cofinancing partners. Disbursements totaled $10.01 billion, an increase of $1.47 billion (17%) from 2013, and the first ...The page has additional information for the ADB Annual Report 2014. In 2014, the Asian Development Bank (ADB) approved $22.93 billion in development assistance, including $13.69 billion financed by ADB’s ordinary capital resources and special funds, ... -
Annual Report 2014: Organizational Information
Asian Development Bank (Asian Development Bank, 2015-01-01)The page has additional information for the ADB Annual Report 2014. In 2014, the Asian Development Bank (ADB) approved $22.93 billion in development assistance, including $13.69 billion financed by ADB’s ordinary capital resources and special funds, and a record $9.24 billion by cofinancing partners. Disbursements totaled $10.01 billion, an increase of $1.47 billion (17%) from 2013, and the ...The page has additional information for the ADB Annual Report 2014. In 2014, the Asian Development Bank (ADB) approved $22.93 billion in development assistance, including $13.69 billion financed by ADB’s ordinary capital resources and special ...