Anti-Money Laundering Law (RA 9160, as amended by RA

9194)
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1. 2. Any person knowing that any monetary instrument or ... 8. 4. Taking into account all known circumstances, it may ...
property involves the proceeds of any unlawful activity be perceived that the client's transaction is structured
performs or fails to perform any act as a result of which in order to avoid being the subject of reporting
he facilitates the offense in No. 1; and requirements;
2. 2. Record Keeping - All records of all transactions of ...
5. Any circumstances relating to the transaction which
covered institutions shall be: a) maintained and safely
is observed to deviate from the profile of the client
stored for 5 years from the date of transactions; b) with
and/or the client's past transactions with the covered
respect to closed accounts, the records on customer
institution;
identification, account files and business
correspondence, shall be preserved and safely stored 9. 4. To cause the filing of complaints with the DOJ or the ...
for at least 5 years from the dates when they were Ombudsman for the prosecution of money laundering
closed. offenses;
3. 3. Any person knowing that any monetary instrument or ...
5. To investigate suspicious transactions and covered
property is required under this law to be disclosed and
transactions deemed suspicious after an investigation
filed with the AMLC fails to do so.
by AMLC;
4. 3. a) Securities dealers, brokers, salesmen, investment ...
10. 6. Company service providers which, as a business, ...
houses and other similar persons managing securities or
provide any of the following services to third parties:
rendering services as investment agent, advisor, or
consultant;
a) acting as a formation agent of juridical persons;
b) Mutual funds, closed‐end investment companies,
b) acting as a director or corporate secretary of a
common trust funds and other similar persons;
company, a partner of a partnership, or a similar
position;
c) Other entities administering or otherwise dealing in
currency, commodities or financial derivatives based
c) providing a registered office, business address or
thereon, valuable objects, cash substitutes, and other
accommodation, correspondence or administrative
similar monetary instruments or property supervised or
address for a company, a partnership or any other legal
regulated by SEC (Sec. 3).
person or arrangement; and
5. 3. Reporting of Covered and Suspicious Transactions - ...
Covered persons shall report to the AMLC all covered d) acting as a nominee shareholder for another person;
transactions and suspicious transactions within 5
11. 6. The transaction is in any way related to an unlawful ...
working days from occurrence thereof, unless the AMLC
activity or offense that is about to be, is being or has
prescribes a different period not exceeding 15 days
been committed; or
6. 3. To extend cooperation in transitional investigation ...
and prosecution of person involved in money 7. Any transaction that is similar or analogous to any of
laundering activities wherever committed (Sec. 1). the foregoing.
7. 4. Jewelry dealers in precious metals, who, as a ... 12. 6. To apply before the CA, ex parte, for the freezing of ...
business, trade in precious metals, for transactions in any monetary instrument/property alleged to be
excess of P1,000,000; laundered, proceeds from, or instrumentalities used in
or intended for use in any unlawful activity;
5. Jewelry dealers in precious stones, who, as a business,
trade in precious stones, for transactions in excess of 7. To implement such measures as may be necessary
P1,000,000; and justified to counteract money laundering;
13. 7. Persons who provide any of the following services: ... 19. 21. Violations of the Revised ...
Forestry Code;
a) Managing of client money, securities or other assets; 22. Violations of the Fisheries Code;
23. Violations of the Mining Act;
b) Management of bank, savings or securities accounts; 24. Violations of the Wildlife
Resources Conservation and
c) Organization of contributions for the creation, Protection Act;
operation or management of companies; and 25. Violation of National Caves and
Caves Resources Management
d) Creation, operation or management of juridical Protection Act;
persons or arrangements, and buying and selling 26. Violations of the decree
business entities. Codifying the Laws on
Illegal/Unlawful Possession,
14. 8. To receive and take action in respect of any request ...
Manufacture, Dealing in, Acquisition
for assistance from foreign states in their own Anti-
or Disposition of Firearms,
Money Laundering operations;
Ammunition or Explosives;
27. Violation of Anti-Fencing Law;
9. To develop educational programs on the pernicious
28. Violation of Migrant Workers
effects of money laundering;
and Overseas Filipino Act;
15. 10. To enlist the assistance of any branch, department, ... 29. Violation of the Intellectual
bureau, office, agency or instrumentality of the Property Code of the Philippines,
government, including GOCCs in undertaking any and 30. Violation of Anti-Photo and
all Anti-Money Laundering operations; Video Voyeurism Act;
16. 11. To impose administrative sanctions for the violation ... 20. 31. Violation of the Anti-Child ...
of laws, rules, regulations and orders and resolutions Pornography Act;
issued pursuant thereto (Sec. 7); and 32. Violation of Special Protection
17. 11. Violations of the Electronic Commerce Act; ... of Children Against Abuse,
12. Hijacking; Exploitation and Discrimination;
13. Destructive arson and murder; 33. Fraudulent practices and other
14. Terrorism and conspiracy to commit terrorism; violations under the SRC;
15. Financing of terrorism; 34. Felonies or offenses of a similar
16. Bribery and corruption of public officers; nature that are punishable under
17. Frauds and illegal exactions; and the penal law of other countries.
18. Malversation of public funds and property; 21. Authority of AMLC to Inquire into General Rule: Only
19. Forgeries and counterfeiting; Bank Deposits upon order of any
20. Violations of Anti-Trafficking Persons Act; competent court in
18. 12. To require the Land Registration Authority and all its ... cases of violation of
Registries of Deeds to submit to the AMLC, reports on Anti-Money
all real estate transactions involving an amount in Laundering Law.
excess of P500,000 within 15 days from the date of
registration of the transaction, in a form to be Exception: No need
prescribed by the AMLC. of court order in
cases of Kidnapping,
The AMLC may also require the Land Registration Hijacking, Drugs,
Authority and all its Registries of Deeds to submit Arson, Murder (Sec.
copies of relevant documents of all real estate 11).
transactions.
22. Can a TRO or Writ of GR: No court shall issue a 27. Provided that if there is ...
Injunction be Issued temporary restraining order or no case filed against a
against any Freeze Order? a writ of injunction against any person whose account
freeze order. has been frozen within
the period determined
XPN: The Supreme Court (Sec. by the court, the freeze
8, RA 10365). order shall be deemed
ipso facto LIFTED:
23. How is Money Laundering It is committed by the
Committed? following persons:
Provided, further, that
this new rule shall not
1. Any person knowing that the
apply to pending cases
monetary instrument or
in the courts.
property represents, involves,
or relates to, the proceeds of
In any case, the court
any unlawful activity, transacts
should act on the
or attempts to transact said
petition to freeze within
monetary instrument or
24 hours from filing of
property;
the petition. If the
24. Money Laundering A crime whereby the proceeds application is filed a day
of unlawful activity are before a nonworking
transacted, making them day, the computation of
appear to have come from a the 24 hour period shall
lawful transaction (Sec. 4). exclude the nonworking
25. Note: A person whose ... days.
account has been frozen 28. Safe Harbor Provision No administrative, criminal or
may file a MOTION to LIFT civil proceedings, shall lie against
the FREEZE order and the any person for having made a
court must resolve this COVERED transaction report or a
motion before the SUSPICIOUS transaction report in
expiration of the freeze the regular performance of his
order. duties and in good faith, whether
26. Policy for the Enactment 1. To protect and preserve the or not such reporting results in
of AMLA intergrity and confidentiality of any criminal prosecution under
bank accounts; this Act or any other Philippine
law.
2. To ensure that the 29. Suspicious Transactions Transactions with covered
Philippines shall not be used institutions, regardless of the
as a money laundering site for amounts involved, where any of
the proceeds of any unlawful the following circumstances exist:
activity; and
1. There is no underlying legal or
trade obligation, purpose or
economic justification;

2. The client is not properly

identified;

3. The amount involved is not

commensurate with the business
or financial capacity of the client;
30. Unlawful 1. Kidnapping for ransom; 35. Which Upon a verified ex parte petition by the AMLC,
Activities 2. Drug trafficking and related offenses; Court has thru the OSG, and after determination that
(Predicate 3. Graft and corrupt practices; Jurisdiction probable cause exists that any monetary
Crimes) 4. Plunder; to Issue a instrument or property is in any way related to
5. Robbery and extortion; Freeze an unlawful activity, the CA may issue a FREEZE
6. Jueteng and Masiao; Order? order which shall be effective immediately, and
7. Piracy on the high seas; which shall not exceed 6 months depending
8. Qualified theft; upon the circumstances of the case:
9. Swindling;
36. Who are Lawyers and accountants acting as independent
10. Smuggling;
Excluded legal professionals are NOT covered with
31. What are 1. Banks, non‐banks; quasi‐banks; trust under the respect to privileged information covered by
Covered entities; foreign exchange dealers, Term confidentiality and attorney-client relationship.
Entities or pawnshops, money changers, remittance and Covered
Institutions? transfer companies and other institutions, Persons?
their subsidiaries and affiliates, supervised or
37. Who has 1. RTC - All cases on money laundering;
regulated by BSP;
Jurisdiction
for 2. Sandiganbayan - Those committed by public
2. Insurance companies, pre-need companies,
Violations officers and private persons in conspiracy with
all other persons supervised or regulated by
of AMLA? them (Sec. 5).
the Insurance Commission;
32. What are A transaction in cash or other equivalent
Covered monetary instrument involving a total amount
Transactions? in excess of Five Hundres Thousand Pesos
(P500,000.00) within one (1) banking day.

Note: These transactions are required to be

reported to the AMLC.
33. What are the 1. To require and receive reports of suspicious
Functions of transactions from covered institutions;
the Anti-
Money 2. To issue orders addressed to the
Laundering Supervising Authority or the covered
Council institution;
(AMLC)?
3. To institute civil forfeiture proceedings and
all other remedial proceedings thru the OSG;
34. What is the 1. Customer identification - covered
Obligation of institutions shall: a) establish and record the
Covered true identity of its clients based on official
Entities or documents; b) maintain a system of verifying
Institutions? the true identity of their clients; and c) in case
of corporate clients, require a system of
verifying their legal existence and
organizational structure, as well as the
authority and identification of all persons
purporting to act on their behalf.