Call for Comments on Rules and Regulations Implementing Section 9(d) of the 2022 Expanded ATIP Act

AMLC ADVISORY

 In compliance with Section 9(d) of Republic Act No. 9208, as amended by Section 8 of Republic Act No. 11862, otherwise known As the Expanded Anti-Trafficking in Persons Act of 2022, and Section 5 of Republic Act No. 11032, otherwise known As The “Ease of Doing Business and Efficient Government Service Delivery Act of 2018”, the AMLC strongly urges our fellow stakeholders (covered persons, law enforcement agencies, and any interested persons or entities) to comment on the draft Rules and Regulations Implementing Section 9(d) of Republic Act No. 9208, as amended by Section 8 of Republic Act No. 11862, otherwise known As the Expanded Anti-Trafficking in Persons Act of 2022.

 The draft may be accessed through this link: (Draft Rules & Regulation..). Kindly send in your comments to the This email address is being protected from spambots. You need JavaScript enabled to view it. with the subject: “Comment on Rules and Regulations of Section 9(d) of 2022 Expanded ATIP Act”.

The deadline will be on 30 September 2022.

Reminder on the Deadline for the DIGICUR (Digitization of Customer Records)

All Covered Persons that are required to comply with the Guidelines on Digitization of Customer Records (DIGICUR) are hereby reminded of the Final and Non-Extendable Deadline of 30 September 2022 to fully comply with its requirements, pursuant to AMLC Regulatory Issuance (ARI) No. 6, Series of 2021. The compliances of said covered persons as of that deadline shall be reported to the AMLC thru the Quarterly DIGICUR Status Report of Compliance (QUADSREC), which is due on or before the 15th of October 2022.

 The failure to fully comply with the DIGICUR by 30 September 2022 shall warrant the imposition of enforcement actions such as Warning, Compliance Letter, and Notarized Compliance Commitment in accordance with ARI No. 5, Series of 2020, otherwise known as the Enforcement Action Guidelines (EAG), based on whether the covered person has satisfied the following conditions:

1. Updated its MTPP to incorporate the provisions of the DIGICUR;
2. Established a central database for customer records;
3. Digitized at least 50% of the records of existing customers prior to the effectivity of the DIGICUR (13 October 2018);
4. Digitized at least 50% of the records of new customers opened after effectivity of the DIGICUR; and
5. Can complete digitization of customer records by 31 December 2023.

Notwithstanding the above enforcement actions, non-compliance with the DIGICUR remains to be a Grave Violation under the Rules of Procedure in Administrative Cases, with penalties ranging from Php37,500 to Php375,000 per customer.

Posted 21 September 2022

AML/CTF Webinar Schedule (September 2022)

Widow of Pasig Shabu Tiangge Mastermind, Ex-Branch Manager, Convicted of Money Laundering

In a Joint Decision dated 20 Sept 2022, the RTC Pasig City Branch 167 convicted Sheryl Boratong, widow of Pasig Shabu Tiangge mastermind Amin Imam Boratong (deceased), of money laundering. The court also found an ex-bank branch manager guilty of money laundering for facilitating drug money for the Boratongs.

Sheryl was previously convicted of drug-related activities in connection with the 2006 Shabu Tiangge raid.

The court relied on the prosecution's evidence based on financial investigation and analysis of bank transactions of the proceeds of illegal drug-activities of Sheryl and Amin Imam Boratong.

Godofredo Medenilla, a former branch manager, was found to have advised the Boratongs how to layer illegal drugs proceeds from their bank account to another account belonging to their relative, after a law enforcement raid of the Shabu Tiangge. Under the Anti-Money Laundering Act, facilitating such bank transfers constitutes money laundering. Layering is the process of conducting a series of transactions to hide the criminal origins of funds.

Medenilla is the fifth in the list of bank personnel convicted for money laundering which also includes Maia Santos Deguito and her assistant, Angela Ruth Torres, who both figured heavily in the notorious Bangladesh Bank Heist.

The conviction of both Boratong and Medenilla sends a strong message to illegal drug traffickers and bank personnel alike that the financial system must not be used for criminal purposes.

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