Philippines launches cashless, checkless government transactions to plug corruption

MANILA, Philippines – The Philippines has launched anti-corruption reforms including cashless and checkless government transactions that President Benigno Aquino III says will cut risks of the money falling into wrong hands and improve budget management.

Aquino unveiled the programs Wednesday at the start of a three-day conference on good governance.

He says the goal is "to institutionalize reforms that make it very difficult for unscrupulous individuals to steal from the people regardless of who sits in office."

Budget Secretary Florencio Abad said the changes spell big savings for the government, which spends 8 pesos (18 cents) on each of the millions of checks it issues each year.

Aquino, son of revered pro-democracy champions, was elected president in 2010 on promises to fight corruption and poverty.