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The Information Management and Analysis Group (IMAG) of the AMLC
Secretariat is conducting a detailed training on the AMLC Reporting
Procedures for electronic CTRs and 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 or the Anti-Money
Laundering Act of 2001 (AMLA) who are not yet compliant with the
reporting requirements are enjoined to attend this training. Interested
parties may call IMAG at 302-3848 or 521-7985 to register.
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The Executive Director
AMLC Secretariat
5th Flr. EDPC Building
BSP Complex, Malate
Manila, Philippines
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Phone:
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+63-2-523-4421
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Fax:
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+63-2-524-6085
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eMail:
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Step-by-Step Procedure
on how to Register with AMLC
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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 amlc@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
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Salient Features of R.A. No. 9160 (The Anti-Money Laundering
Act (AMLA) of 2001)
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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
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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)
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The
Revised Implementing Rules and Regulations of Republic Act No. 9160, as
amended.
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