FINANCIAL institutions are the favored avenues for shifting high-value proceeds with suspected links to tax offenses, according to a report released by the Anti-Money Laundering Council on Wednesday.
The country's financial intelligence unit, said it conducted a study on the Philippines' potential exposure to tax crimes prior to the inclusion of tax evasion as a predicate offense to money laundering by focusing on selected suspicious transaction reports (STRs) in its "An Analysis of Suspicious Transaction Reports Links to Possible Tax Crimes."
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