SEM-CDA: Transnational Crimes

The seminar had a focus on money-laundering. The presenters were very detailed in their presentation. Though there were times when I couldn’t get the idea being presented, I think the seminar got me really interested. I guess it’s because I am affected by it very much. Well, every individual is affected as long as money is being talked about.

I learned a lot of technical terms about money-laundering, specifically Republic Act 9160 or the Anti-Money Laundering Act of 2001. The law is very important in the Philippines. I have observed that there are many incidents in the country that exhibits money laundering and most of the time it is also related to incidents of prostitution and drugs. But having the RA should not satisfy it, it should be fully and properly implemented. I also realize the drastic situation of the Philippines before when the law was not yet crafted. I think that it was really difficult to punish the many offenders.

As mentioned by Gen. Robert Lastimoso, transnational crimes have an international dimension because the act needs atleast two countries for it to be officially considered. After the session, I remember my travels abroad. When we arrived in the country, we need to surrender the total monetary amount that we are carrying. It is because there is a limit in bring money. But still, many individuals are not caught. An example would this would be government officials who open bank accounts abroad and put all of the money that they have gotten. So that it would be difficult to trace them. In the 21st century, greater challenges are rising. Thus, countries need to be innovative in creating their security mechanisms and programs.