US, Philippines Start Joint Money-Laundering Inquiry Unit

Law360, New York (June 24, 2013, 5:51 PM EDT) -- Customs officials in the U.S. and Philippines have agreed to establish a joint investigation unit in Manila designed to thwart trade-based money laundering and commercial fraud, U.S. Immigration and Customs Enforcement said Monday.

Under the agreement, the Philippine Bureau of Customs will be given access to a U.S. computer system that contains an extensive database of domestic and foreign trade data that will make it easier for authorities to spot financial irregularities and other trade-based abnormalities that are indicative of international money laundering and other related...
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