AMLC Issues Guidelines on Transaction Reporting and Compliance Submissions

The Anti-Money Laundering Council (AMLC) has issued the Guidelines on Transaction Reporting and Compliance Submissions (GoTRACS).

The issuance was made in accordance with Sections 7(1), 7(2), 7(7), and 9(c) of Republic Act No. 9160, also known as the Anti-Money Laundering Act of 2001, as amended (AMLA); Rule 22, Sections 1.1, 2, 3, 7; and Rule VII, Section 4 (a), (b), and (g) of the Casino Implementing Rules and Regulations of Republic Act No. 10927. 

The GoTRACS was promulgated to provide covered persons with a set of guidelines to carry out one of their primary duties as covered persons, particularly on transaction reporting. 

The salient features of the GoTRACS are as follows: 

1. Reinstatement of some low-risk transactions as reportable CTRs  
2. Addition of low-risk transactions
3. Introduction of new STR file types
4. Mandatory uploading of Beneficial Owner (BO) information of Account Holders tagged as juridical persons for STRs
5. Addition of Transnational Organized Crime as one of the reasons for suspicion
6. Revision in the Covered Transaction and Suspicious Transaction Report Format 

Implementation Dates: 

01 May 2025 

Chapter II, Part 1, Section 1.18

Chapter II, Part 1, Section 1.19 

02 January 2026

Provisions on Low-Risk Transactions and Non-working and Non-Reporting Days 

02 January 2026 – 02 January 2028

New Reporting Format and its Guidelines

Uploading of Documents

Other Submissions

Uploading of KYC Documents and Beneficial Owner Excel Template for STRs on Judicial Persons 

To view the GoTRACS, click this link. 

Posted: 3 January 2025

• Targeted Financial Sanctions in Relation to Anti-Terrorism Council Resolution No. 65 (2024): AMLC Resolution No. TF-104 Series of 2025
• AMLC TRAININGS (JANUARY 2025)