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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 331 - CREATING
AN INTER-AGENCY TASK FORCE TO COMBAT SECURITIES-FRAUD
WHEREAS,
there are growing complaints among the international business
communities that Securities-Fraud are being committed on their
jurisdiction by Philippine-registered corporations or spurious
Philippine-based companies, and aforesaid firms that are owned and
controlled by transnational elements with dubious identities and
characters;
WHEREAS, universal consensus reflecting Securities-Fraud as a form of
money laundering is becoming evident, it being a crime committed by
crossing the border of another country thus validates the commission of
a transnational crime;
WHEREAS, recent studies indicate that transnational crime such as:
illicit trafficking of narcotic drugs and psychotropic substances,
money laundering, terrorism, arms smuggling, trafficking in persons,
piracy, credit card fraud, identity fraud, and cross border
Securities-Fraud are interlinked with each other;
WHEREAS, transnational crime is a national security concern as embodied
under the National Security Policy Framework crafted by the National
Security Council, and its increasing compity, specifically on
Securities-Fraud, demands a concerted, synchronized and focused effort
from all economic, intelligence, enforcement, and prosecution agencies
of the government as well as in the private sector;
WHEREAS, transnational organized-crime groups utilize the Philippines
in launching these remote-controlled Securities-Fraud operations
anywhere in the globe, thereby eroding the integrity of the Philippine
Corporate Registry and challenging the vulnerabilities of the
Philippine Securities Act before the eyes of the international business
community;
WHEREAS, the establishment of the inter-agency, anti-fraud task force
is imperative in order to secure both significant and sustainable
international cooperation to implement immediate, appropriate proactive
and reactive response to this economic menace.
NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the
Philippines, by virtue of the powers vested in me by law, do hereby
order:
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In order to effectively carry out its mission and function, ATF shall pursue programs and activities in the following specific areas of concern:
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Done in the City of Manila,
this 29th day of December, in the year of Our Lord, Two Thousand.
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