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Declaration of Localized Non-Reporting Day on Areas Severely Affected by Typhoon Odette
As the AMLC recognizes the significant impact of Typhoon Odette on business operations due to damages on power supply lines and communication lines, including internet connectivity, please be advised of the following:
Pursuant to Item V-C Part 1, General Provisions of the 2021 AMLC Registration and Reporting Guidelines (ARRG), 16 December 2021 to 31 January 2022 are officially declared as non-reporting days, limited only to areas affected by Typhoon Odette under Proclamation No. 1267 series of 2021, declaring a State of Calamity in Regions IV-B, VI, VII,VIII, X, and XIII, and shall be excluded from the counting of the prescribed reporting period, subject to the validation of the AMLC.
The foregoing is without prejudice to the voluntary submissions by covered persons (CPs) of covered (CTRs) and suspicious transaction reports (STRs) within the reglementary period through the AMLC portal.
Moreover, CPs located on the affected areas as well as CPs with branches operating in the said areas should submit all reportable transactions (C/STRs) when the situation permits and ensure that the proper institution code (incorporating the branch code if applicable) is entered in the transaction report.
Further, CPs shall request the exclusion of these subject transactions during AMLC’s compliance check on timeliness by providing documentation/proof that these are indeed subject to the localized non-reporting days, subject to the validation and approval of the AMLC.