Advisories

PHILIPPINES' CONTINUED EFFORTS IN STRENGTHENING AML/CTF/CPF REGIME IN RESPONSE TO FATF STATEMENT

In response to the Financial Action Task Force (FATF) public statement on October 27, 2023, we highlight that the Government of the Philippines had reaffirmed its steadfast commitment to bolstering the effectiveness of its Anti-Money Laundering, Counter Terrorism Financing and Counter Proliferation Financing (AML/CTF/CPF) regime.
 
Since June 2021, guided by high-level political commitment, the Philippines has actively collaborated with the FATF and the Asia/Pacific Group on Money Laundering (APG) to enhance the country's AML/CTF measures. Executive Order No. 33, Series of 2023, and Memorandum Circular No. 37, issued by President Ferdinand R. Marcos Jr., underscore this unwavering commitment and set the strategic direction for the country's initiatives.
 
Key government agencies have rallied behind these directives, focusing on:
 
1. Enhancing risk-based supervision of Designated Non-Financial Businesses and Professions (DNFBPs).
2. Implementing AML/CTF controls to manage risks linked with casino junkets.
3. Refining law enforcement agencies' access to Beneficial Ownership (BO) information, ensuring its accuracy and timeliness.
4. Intensifying money laundering (ML) investigations and prosecutions in line with identified risks.
5. Elevating the identification, investigation, and prosecution of terrorism financing (TF) cases.
 
Despite the FATF's note on the lapse of January 2023 deadlines, it is crucial to highlight that the nation's pertinent agencies remain dedicated to swiftly and effectively implementing the outstanding action plans. The Philippines has made leaps in becoming a strong international partner in ML and TF investigations, building a strong BO information system in line with best practices, and establishing a robust DNFBP risk-based framework ahead of the global network. The relevant agencies' commitment extends beyond timelines, focusing on establishing a robust and compliant AML/CTF framework in the Philippines.
 
We now also call upon the private sector to continue contributing towards efforts to exit the greylist. First, for covered persons - designated non-financial businesses and professions (DNFBPs), registration with AMLC of lawyers, accountants, company service providers, dealers in precious metals and stones, and real estate brokers and developers is a critical component of an effective risk-based supervision of DNFBPs. Secondly, all corporations are urged to comply with the Securities and Exchange Commission's (SEC) directives in enrollment with the SEC Electronic Filing and Submission Tool (e-fast) and timely submission of the General Information Sheet (GIS) with BO declarations.
 
The Philippines values the guidance and recommendations from international bodies like the FATF and remains committed to continuous improvement and collaboration. By working hand in hand with our international partners and leveraging the collective strength of our national agencies, the Philippines continues its momentum in addressing its strategic deficiencies and further ensure the resilience and integrity of its financial landscape.
 
Posted : 30 November 2023 

AMLC STATEMENT ON THE LANDMARK   JUDGMENT OF THE RTC, BRANCH 295, PARAÑAQUE CITY, ORDERING THE CRIMINAL FORFEITURE OF DRUG PROCEEDS 

   In a Decision rendered by the Regional Trial Court (RTC) of Parañaque City, Branch 295, promulgated on 29 April 2022, the court convicted Wang Li Na, a Chinese national, of money laundering for purchasing a condominium unit in Marina Bay Homes, Parañaque City, using funds generated through her and her husband’s illegal drug trafficking activity.

  The said decision is the first time in the Philippines where a court ordered the forfeiture of a property in a criminal case pursuant to the Rule on Criminal Forfeiture in Money Laundering Cases (A.M. No. 21-03-13-SC).

   In convicting Wang Li Na of money laundering, the RTC relied on the prosecution's evidence that the property located at Marina Bay Homes was in the name of the accused and purchased for Php7 million by virtue of a deed of absolute sale.

   The RTC found Wang Li Na guilty and sentenced her to suffer the penalty of imprisonment of twelve (12) years, ten (10) months and one (1) day, as minimum to fourteen (14) years, as maximum, and to pay a fine of Php10 million. As accessory penalty, the court ordered the criminal forfeiture of the 278-square meter property located at Marina Bay Homes in favor of the Philippine Government pursuant to A.M. No. 21-03-13-SC.

   Wang Li Na and her husband Li Lan Yan, a.k.a. Jackson Dy, were previously convicted on 29 April 2009 by the RTC-Parañaque City, Branch 274, for illegal possession of 350.67 kilograms of methamphetamine hydrochloride (shabu). The said illegal drugs were recovered by the Philippine National Police Anti-Illegal Drugs Special Operations Task Force (PNP-AIDSOTF) by virtue of a search warrant implemented at a house in the name of the convicted spouses in Marina Bay Homes, Parañaque City.

   Li Lan Yan and his cohorts are also facing criminal charges before the RTC-Trece Martires City for illegal manufacture of dangerous drugs in a clandestine shabu laboratory located in Tanza, Cavite. The RTC-Trece Martires City, in a decision dated 4 November 2016, ordered the forfeiture of the shabu laboratory and its premises in favor of the Philippine Government in a separate civil forfeiture case.

   The RTC’s judgment against Wang Li Na serves as a warning to all would-be money launderers that the properties that they acquire through crimes may be forfeited by the Philippine Government.

   The judgment of conviction is presently on appeal before the Court of Appeals.

Posted 23 June 2023

Reminder to Update Covered Person Information Via ORS

The AMLC urges covered persons to update their registration through the Online Registration System (ORS).

Per Item 6, Part 2 (Online Registration) of the 2021 AMLC Registration and Reporting Guidelines (2021 ARRG), a two (2)-year mandatory update of the registration via the ORS is required. Failure to do so will deactivate the covered person’s user access in the AMLC Portal, and losing said access may result in late or non-filing of covered and suspicious transaction reports (CTRs/STRs), which is penalized under the Rules of Procedure in Administrative Cases (AMLC Procedural Issuance A, B, and C No.1, series of 2019). Moreover, failure to file CTRs/STRs, knowing that the same is required to be reported to the AMLC, is a money laundering offense under the Anti-Money Laundering Act of 2001, as amended.

Per the 2021 ARRG, covered persons are also required to immediately update their registration online whenever there is a change in compliance officer/authorized representative, address and contact details, or any material change in their registration.

Posted 25 March 2022

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.

NOTICE OF NATIONAL ANTI-MONEY LAUNDERING/COUNTERING THE FINANCING OF TERRORISM COORDINATING COMMITTEE ADVISORY ON THE PROPER APPLICATION OF THE RISK-BASED APPROACH ON FILIPINOS FOLLOWING THE INCLUSION OF THE PHILIPPINES IN THE FATF’S GREY LIST

Please click the link for further details.

 PUBLIC ADVISORY ON FRAUDULENT E-MAILS USING THE @AMLC.GOV.PH DOMAIN
 
 The Anti-Money Laundering Council (AMLC) Secretariat discovered that some of its official e-mail addresses using the @amlc.gov.ph domain are being spoofed by scammers to pose as officers or personnel of the Secretariat.

 The scammers send emails to potential victims, using these e-mail addresses, requesting them to pay a certain amount of money in order for the AMLC, or its Secretariat, to facilitate some sort of service, which appears to be beneficial to the victims.

 The AMLC Secretariat reiterates that the Anti-Money Laundering Act of 2001 (Republic Act No. 9160), as amended, the law that created the AMLC, does not grant it any power or authority to request any kind of payment or fee from the public in exchange for its services.   Specifically, the AMLC, or its Secretariat, does not require any person to post a bond or payment as a prerequisite for the issuance of any type of Certification or the execution of any of its functions.

 Kindly disregard any communication from any person that may be posing as a member of the AMLC or its Secretariat.  The public is advised to report such fraudulent activities to the appropriate law enforcement agencies.

 Any issues or concerns on the legitimacy of an e-mail, purportedly sent by the AMLC, its Members, its Secretariat or any of its officers and personnel, can either be e-mailed to the official AMLC Secretariat e-mail address at This email address is being protected from spambots. You need JavaScript enabled to view it. or mailed to the AMLC Secretariat, 5/F EDPC Building, Bangko Sentral ng Pilipinas Complex, Mabini corner Vito Cruz Streets, Malate, Manila, Philippines.  All replies of the AMLC Secretariat will also be sent through these official channels. 

 PUBLIC ADVISORY ON FRAUDULENT LETTERS OF GUARANTEES AND FACILITATION OF FUND TRANSFERS AND HOLD ON TAXES 

 The Anti-Money Laundering Council (AMLC) Secretariat has noted the inquiries it has received, both from the Philippines and abroad, on the authenticity of certain emails and letters, in which scammers pose as Members of the AMLC, or officers and personnel of the AMLC Secretariat.

 Typically, these scammers send emails or letters informing the potential victim to pay a certain amount of money (which they call “tax clearance”, “facilitation fee” or other similar terms) for him to receive an amount many times larger than this payment, supposedly “to release the hold on the funds” or “to guarantee safe and secure transfer of funds” to the victim’s account.  The scammers require the potential victim to deposit the “payment” to the scammers’ bank account, and disclose his bank account. Once the victim remits the “payment” to the scammers, the scammers cut off any communications with him, and the promised release of funds never materialize.

 The public is hereby informed that Republic Act No. 9160 or the Anti-Money Laundering Act of 2001, the law that created the AMLC, does not grant the AMLC any function or authority to hold an account for tax purposes, guarantee safe and secure transfer of funds or oversee economic transactions, or to engage in commercial transactions.

 Thus, the AMLC and its Members, as well as the AMLC Secretariat or any of its personnel, do not, and will never, contact the public for payment of any sum of money or disclose details of bank accounts. Any email or letter purportedly sent by the AMLC or any of its Members, and its Secretariat, or any officer or employee thereof cannot be genuine or authorized by the AMLC.

 The public is therefore warned to ignore emails, letters, and other documents of this tenor, as these are fraudulent.

 The AMLC further advises the public to report these fraudulent activities to the appropriate law enforcement agencies.

 If you have been victimized by scammers or have encountered or received fraudulent emails or letters, or information on scams of the above tenor or similar deceptive schemes devised by persons identifying themselves with the AMLC or its Secretariat, please e-mail the AMLC Secretariat at This email address is being protected from spambots. You need JavaScript enabled to view it..

 NEW AMLC RULES ON BENEFICIAL OWNERSHIP INTENDED FOR FINANCIAL TRANSPARENCY

To promote financial transparency, the Anti-Money Laundering Council (AMLC) has issued for the first time guidelines on beneficial ownership for all banks, insurance companies, and other covered persons. Covered persons include entities, businesses, casinos and professions subject to the authority and jurisdiction of the AMLC on anti-money laundering and counter-terrorism financing (AML/CFT) matters.

“Beneficial owners” refers to those individuals or natural persons who ultimately own or control the customer, or those for whom another person conducts a transaction. Money launderers and terrorists routinely use the cloak of anonymity to prevent the AMLC and law enforcement agencies (LEAs) to track them down. In the case of the AMLC, they also seek to avoid freezing and forfeiture of their assets obtained through criminal activities.

In many well-publicized cases, criminal elements and a number of high-ranking public figures have used dummies, including non-governmental organizations (NGOs), and individuals, to hide their identities. These criminals then use these dummies to conduct multiple financial transactions involving multiple accounts in the millions of pesos, thereby blurring the illegal source of the funds.

In response to these criminal activities, and to prevent future circumvention of the Anti-Money Laundering Act of 2001 (AMLA) and its implementing rules, the AMLC issued the Guidelines on Beneficial Ownership. Issuance of these Guidelines was also intended to bring the Philippines more at par with international financial standards on customer due diligence (CDD). These standards require banks, other financial institutions and certain professions to identify not only the customer with whom they transact, but also the beneficial owners.

Although Philippine standards on beneficial ownership as provided under the AMLA’s implementing rules and regulations, were rated medium-high in the 2017 National Risk Assessment, the AMLC perceived the need to adopt the new Guidelines to enhance these standards and guide covered persons in identifying beneficial ownership.

The Guidelines provide that covered persons must identify beneficial owners. Covered persons must conduct the risks posed by the customer and the beneficial owners. If they pose a high risk for money laundering or terrorism financing, validation of information must be performed by the covered person. The Guidelines therefore promote transparency and dissuade criminal elements, and would-be money launderers and terrorists from hiding their identities.

 The Guidelines were published on 27 November 2018 at Business World, and took effect on the same day.

To view the Guidelines, click this link.

ADVISORY ON A FRAUDULENT  LETTER OF OBLIGATION 

16 December 2015 

A certain "Letter of Obligation" allegedly issued by the Anti-Money Laundering Council (AMLC)  Secretariat  to a certain Iver Pehrson has come to the attention of the AMLC Secretariat.  Please be advised that the said Letter of Obligation is a bogus document. Neither the AMLC nor its Secretariat issues any kind of such document. The details (names, letterhead and signatures thereon) are falsified and obviously downloaded from the BSP website. The public is hereby CAUTIONED in transacting with Atty. Joseph Charles Adams & Patterson Law Firm, and any associates or agents of the foregoing, in relation to the claims in the Letter of Obligation.

ADVISORY ON A SPURIOUS LETTER OF GUARANTEE 

04 September 2013   

 The Anti-Money Laundering Council (AMLC) Secretariat received a request for the verification of a "Letter of Release Guarantee" purportedly issued by the AMLC upon the application of a certain Mr. Mickey Cozier, Officer of Investigation, Investment Assurance Corporation(with email address:This email address is being protected from spambots. You need JavaScript enabled to view it./www.iacinternational.org).
Please be advised that the said "Letter of Release Guarantee" is a spurious or fake document. Neither the AMLC nor its Secretariat issues any kind of such guarantee. The details (names, letterhead and signatures thereon) were just copied from AMLC's Bids and Awards Committee (BAC) documents posted on various official websites in the internet.
The public is hereby WARNED to act with caution in transacting with Mr. Mickey Cozier/ Investment Assurance    Corporation and any other individual or entity pretending to have obtained a letter of guarantee from the  AMLC. 

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Direct Marketing Group Internatonal Corporation

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Allianced of Networkers of the Philippines 

28 September 2015

Professional Forex Union Limited

ADS ZENS Broker Corporation

Reyality Investment Corporation

Double your Money Scam in Pagadian City