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| Step-by-Step
Procedure on how to Register with AMLC |
1. Fill up the Registration
Form, containing
among others, the assigned Compliance
Officer and alternate/s, one preferably with IT background. Submit to
AMLC immediately the original signed copy. To expedite processing of
their respective user name and password, fax an advance copy to
524-6085
(Proceed to the next step if already registered with AMLC).
2. Get a copy of the latest Reporting
Procedures,
for reference and guidance.
3. Study these guidelines especially the preparation of the CSV
reports, generation of public/private keys, and encryption of CSV
formatted CTR/STR transactions. Questions, if any, could be emailed to gctan@amlc.gov.ph
or rdelapena@bsp.gov.ph.
Response/s thereto shall be
sent accordingly.
4. Personally pickup from AMLC individual password/s, the softcopy
of the validation program (CFFC version 1.0.17c) and the encryption/authentication
software (GPG), (Please bring 1 blank CD where these programs
will be copied). Please take note that the GPG software can also
be downloaded from this site.
5. Attend (optional)
the actual briefing on the preparation of the CTR/STR reports,
generation of public/private keys, encryption and electronic
transmission of CSV formatted CTR/STR transaction files via HTTP which
is conducted at the AMLC office once a month, usually on the last
Wednesday of the month. You may call on Ms. Arlene Pineda or Ms. Mylene
Meneses at 302-3848
to register for this actual briefing.
6. Complete all activities specified in the Transaction Security
Process Guidelines and Protocol (sections 7 and 8 of the Reporting
Procedure).
7. Conduct testing of the report generation, encryption and electronic
submission of reports to AMLC
in coordination with
the Information Management and Analysis Group (IMAG) support staff.
8. When advised by IMAG staff to go on Production Mode, start
submitting reports
using submission code "1" (new).
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| R.A.
No. 9160 |
| Salient
Features of R.A. No. 9160 (The Anti-Money Laundering Act (AMLA) of 2001) |
a. Criminalizes
money laundering.
b. Creates a financial intelligence unit (FIU).
c. Imposes requirements on customer identification, record-keeping and
reporting of covered and suspicious transactions.
d. Relaxes strict bank deposit secrecy laws.
e. Provides for freezing/seizure/forfeiture recovery of dirty
money/property.
f. Provides for international cooperation.
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| Amendments
under R.A. No. 9194 |
a. Lowers the
threshold amount for single covered transactions (cash or other
equivalent monetary instrument) from P4M to P500,000.00 within one (1)
banking day.
b. Expands the reporting requirements to include the reporting of
suspicious transactions regardless of the amount involved
c. Authorizes AMLC to inquire into or examine any particular deposit or
investment, with any banking institution or non-bank financial
institution and their subsidiaries and affiliates upon order of any
competent court in cases of violation of this Act, when it has been
established that there is probable cause that the deposits or
investments are related to an unlawful activity. However, no court
order is
required in cases involving unlawful activities of kidnapping for
ransom, narcotics offenses and hijacking, destructive arson and murder,
including those perpetrated by terrorists against non-combatant persons
and similar targets.
d. Authorizes the
Bangko Sentral ng Pilipinas to inquire into or examine any deposit or
investment with any banking institution or non-bank
financial institution and their subsidiaries and affiliates when the
examination is made in the course of a periodic or special examination,
in accordance with the rules of examination of the BSP to ensure
compliance with R.A.
No. 9160, as amended.
e. Transfers the
authority to freeze any money/property
from the AMLC to the Court of Appeals.
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| Implementing
Rules And Regulations (Earlier IRRs considered herein) |
| The Revised
Implementing Rules and Regulations of Republic Act No. 9160, as amended. |
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