CISI ad

Updated as of March 2022

 

 

  

Free Donuts (PHISING)

 

 

 

Related Links

 

          
      
    OFAC 
Upcoming Events

 

JEM - Module-Calendar

<<  February 2023  >>
 Mo  Tu  We  Th  Fr  Sa  Su 
    1  2  3  4  5
  6  7  8  9101112
13141516171819
20212223242526
2728     

JEM - Module-Basic

Recent Posts

News and Announcements

Advisories

 

 

 

Archives

AMLC Resolutions

 

 

All Covered Persons that are required to comply with the Guidelines on Digitization of Customer Records (DIGICUR) are hereby reminded of the Final and Non-Extendable Deadline of 30 September 2022 to fully comply with its requirements, pursuant to AMLC Regulatory Issuance (ARI) No. 6, Series of 2021. The compliances of said covered persons as of that deadline shall be reported to the AMLC thru the Quarterly DIGICUR Status Report of Compliance (QUADSREC), which is due on or before the 15th of October 2022.

 The failure to fully comply with the DIGICUR by 30 September 2022 shall warrant the imposition of enforcement actions such as Warning, Compliance Letter, and Notarized Compliance Commitment in accordance with ARI No. 5, Series of 2020, otherwise known as the Enforcement Action Guidelines (EAG), based on whether the covered person has satisfied the following conditions:

  1. Updated its MTPP to incorporate the provisions of the DIGICUR;
  2. Established a central database for customer records;
  3. Digitized at least 50% of the records of existing customers prior to the effectivity of the DIGICUR (13 October 2018);
  4. Digitized at least 50% of the records of new customers opened after effectivity of the DIGICUR; and
  5. Can complete digitization of customer records by 31 December 2023.

Notwithstanding the above enforcement actions, non-compliance with the DIGICUR remains to be a Grave Violation under the Rules of Procedure in Administrative Cases, with penalties ranging from Php37,500 to Php375,000 per customer.

Posted 21 September 2022

Back to Top