Main

AMLC

AMLA

Assistance

Downloads

Tutorial 

 

 

 

  Transparency Seal

 

 

Quick Links

What is ...

» AMLC

» AMLA

How to ...

» Contact AMLC

» Register with AMLC

» Submit your reports

 

 

Events & Schedule

The Information Management and Analysis Group ( IMAG ) of the AMLC Secretariat is conducting a detailed training on the AMLC Reporting Procedures for Covered Transaction Reports (CTRs) and Suspicious Transaction Reports (STRs) every last Wednesday of the month at Room 507 EDPC Bldg., BSP Complex, corner A. Mabini & P. Ocampo Sts., Malate, Manila.

Compliance officers and staff of institutions covered by R.A. 9160, as amended by R.A. 9194 and RA 10167 or the Anti-Money Laundering Act of 2001 (AMLA), as amended, who are not yet compliant with the reporting requirements are enjoined to attend this training. Interested parties may call IMAG at 302-3848 or 708-7064 to register.

 

 

News & Announcements

Egmont Group Annual Report 2010-2011

January 15, 2009
»
Banks Cannot Unilaterally allow fund releases from Bolante Et al

May 20, 2008
»Valid Identification Cards for Financial Institutions

March 3, 2008
»M-Commerce Spawns New Forms of Money Laundering, U.S. Warns

January 25, 2008
» Text Scams

October 02, 2007
» Internet Scam/ Advance Fee Fraud

 
Procurement
September 10, 2014
 »Request for Quotation:
VMWare Maintenance
August 06, 2014
 »Request for Quotation:
Cyberark PIM Maintenance
August 06, 2014
 »Request for Quotation:
2 Units Shredder 
August 06, 2014
 »Request for Quotation:
5 units heavy duty Stapler
August 04, 2014
 »Request for Quotation:
Maintenance of RSA envision
May 22, 2014
 
»Request for Quotation: Law Books 

For inquiries, contact:
The Executive Director
AMLC Secretariat
5th
Flr. EDPC Building
BSP Complex, Malate
Manila , Philippines

Phone:+63-2-708-70-66

Fax: +63-2-708-79-09

 

 

 

The Anti-Money Laundering Council (AMLC)

 

Vision

To be a world-class financial intelligence unit that will help establish and maintain an internationally compliant and effective anti-money laundering regime which will provide the Filipino people with a sound, dynamic and strong financial system in an environment conducive to the promotion of social justice, political stability and sustainable economic growth. Towards this goal, the AMLC shall, without fear or favor, investigate and cause the prosecution of money laundering offenses.

[Back to top]

Mission

  • To protect and preserve the integrity and confidentiality of bank accounts 
  • To ensure that the Philippines shall not be used as a money laundering site for proceeds of any unlawful activity. 
  • To extend cooperation in transnational investigation and prosecution of persons involved in money laundering activities wherever committed.

[Back to top]

Organization

The Anti-Money Laundering Council is composed of the Governor of the Bangko Sentral ng Pilipinas (BSP) as Chairman and the Commissioner of the Insurance Commission (IC) and the Chairman of the Securities and Exchange Commission (SEC) as members. It acts unanimously in the discharge of its functions.

The AMLC is assisted by a Secretariat headed by an Executive Director and consists of five (5) units; the Compliance and Investigation Group (CIG), the Legal Evaluation Group (LEG), the Information Management and Analysis Group (IMAG), Technical Services Staff (TSS) and the Administrative and Financial Services Division (AFSD).

[Back to top]

Functions

    

  • Require and receive covered or suspicious transaction reports from covered institutions (banks and all other institutions and their subsidiaries and affiliates supervised or regulated by the BSP; insurance companies and all other institutions supervised or regulated by the IC; and securities dealers and other entities supervised or regulated by the SEC); 
  • Issue orders addressed to the appropriate Supervising Authority (the BSP, IC or SEC) or the covered institution to determine the true identity of the owner of any monetary instrument/property subject of a covered or suspicious transaction report or request for assistance from a foreign State, or believed by the AMLC, on the basis of substantial evidence, to be representing, involving, or related to the proceeds of an unlawful activity;
  • Institute civil forfeiture proceedings and all other remedial proceedings through the Office of the Solicitor General;
  • Cause the filing of complaints with the Department of Justice or the Ombudsman for the prosecution of money laundering offenses;
  • Investigate suspicious transactions and covered transactions deemed suspicious after an investigation by AMLC, money laundering activities, and other violations of the AMLA, as amended;
  • Apply before the Court of Appeals, ex parte, for the freezing of any monetary instrument/property alleged to be proceeds of any unlawful activity as defined in the AMLA;
  • Implement such measures as may be necessary and justified to counteract money laundering;
  •  Receive and take action in respect of any request for assistance from foreign states in their own anti-money laundering operations;  
  • Develop educational programs on the pernicious effects of money laundering, the methods and techniques used in money laundering, the viable means of preventing money laundering and the effective ways of prosecuting and punishing offenders;
  • Enlist the assistance of any branch, department, bureau, office, agency or instrumentality of the government, including government-owned and –controlled corporations in undertaking any and all anti-money laundering operations, which may include the use of its personnel, facilities and resources for the more resolute prevention, detection and investigation of money laundering offenses and prosecution of offenders; 
  • Impose administrative sanctions for the violation of laws, rules, regulations and orders and resolutions issued pursuant thereto; and
  • Inquire or examine any particular deposit or investment, including related accounts, with any banking institution or non-bank financial institution upon order of any court based on an ex parte application in cases of violation of the AMLA, as amended, when it has been established that there is probable cause that the deposits or investments, including related accounts involved, are related to an unlawful activity or a money laundering offense under the AMLA as amended.

        To ensure compliance with the AMLA, as amended, the BSP may, in the cause of a periodic or special examination, check the compliance of a covered institution with the requirements of the AMLA and its implementing rules and regulations.

[Back to top]


 

Copyright © 2004-2005 AMLC. All Rights Reserved.