Advisory on the Implementation of the AMLA and its RIRRs and AMLC Reso No. 64 series 2014

        It would be recalled that the Financial Action Task Force’s (FATF), in its Public Statement dated 27 June 2014, identified Iran and North Korea as high-risk jurisdictions and required its members and other jurisdictions “to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/FT) risks” emanating from these jurisdictions.

        Thus, in compliance with the above requirement of the FATF and pursuant to its Recommendation 19 which requires countries “to apply countermeasures when called upon to do so by the FATF”, the AMLC issued Resolution No. 64, Series of 2014. 

        The said AMLC Resolution directs all covered persons to apply enhanced due diligence relative to the jurisdictions identified under the FATF Public Statement dated 27 June 2014. The application of enhanced due diligence is one of the countermeasures under the Interpretative Notes of the FATF Recommendation 19 which could be resorted to by jurisdictions insofar as identified high risk countries are concerned.

Read more: Advisory on the Implementation of the AMLA and its RIRRs and AMLC Reso No. 64 series 2014

FATF Public Statement - 24 June 2016

Busan, Korea, 24 June 2016 - The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). In order to protect the international financial system from money laundering and financing of terrorism (ML/FT) risks and to encourage greater compliance with the AML/CFT standards, the FATF identified jurisdictions that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system.

Jurisdiction subject to a FATF call on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/FT) risks emanating from the jurisdictions.

Read more: FATF Public Statement - 24 June 2016

As part of its 15th anniversary celebration, the Anti-Money Laundering Council (AMLC) Secretariat will conduct a Public Information Campaign for the benefit of covered persons, its stakeholders, and the general public. This will entail the conduct of lectures on: 1) the Anti-Money Laundering Act of 2001 (AMLA), as amended, and its Revised Implementing Rules and Regulations (RIRRs); and 2) Reporting Procedures.

The lectures will be held simultaneously on 13 October 2016, from 1:00 PM to 4:00 PM, at the following venues:

To attend the lectures, fill out the registration form below and send it to This email address is being protected from spambots. You need JavaScript enabled to view it. on or before 23 September 2016.  Registration is free of charge and is on a first come, first served basis. Certificates of Attendance will be issued right after the lectures.

For inquiries, please call 306-2833. 

AMLC INFORMATION CAMPAIGN AND LECTURE