MANILA, Sep. 29 — The Philippines is clamping down on illicit financial flows (IFF), with the government undertaking reforms to strengthen legal and regulatory frameworks and prevent illegal movements of money or capital to, and from, the country. Global Financial Integrity (GFI), a non-profit research and advocacy organization, defines illicit financial flows as illegal movements of money or capital from one country to another. GFI classifies this movement as illicit flow when the funds are […]