AMLC TRAININGS (JANUARY 2024)

Amendments to Titles I and VI of the 2021 Anti-Money Laundering/Counter-Terrorism Financing Guidelines for Designated Non-Financial Businesses and Professions

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Requiring the Submission of Updated General Information Sheet (GIS) from Corporate Customers

To: ALL Covered Persons (CPs)

The Anti-Money Laundering Council (AMLC) reminds Covered Persons (CPs) to conduct the appropriate customer due diligence (CDD) on their corporate clients, including the updating of their customers’ records and information pursuant to Chapter VI, Rule 18 of the 2018 Implementing Rules and Regulations of the Anti-Money Laundering Act, as amended.

In line with this, CPs are enjoined to refer to the following lists from the Securities and Exchange Commission (SEC):

1. List of Non-User Corporations Eligible to Avail of Amnesty:

https://www.sec.gov.ph/wp-content/uploads/2023/10/2023Notice-and-List-of-Non-User-Corporations-Eligible-to-Avail-of-Amnesty.pdf

1. List of Delinquent Corporations Eligible to Avail of Amnesty:

https://www.sec.gov.ph/wp-content/uploads/2023/10/2023Notice-to-and-List-of-Delinquent-Corporations-Eligible-to-Avail-of-Amnesty.pdf

In relation thereto, CPs are instructed to:

1. Require their corporate clients which are included in the said lists to submit their latest GIS as part of the CPs’ ongoing CDD.
2. Advise such corporate clients to coordinate directly to the SEC pursuant to the Notices issued on 17 October 2023 (Annex A).

The AMLC shall continue to monitor the implementation of this advisory and will issue further guidelines as needed.

30 November 2023.

Targeted Financial Sanctions in Relation to Anti-Terrorism Council Resolution No. 52 (2023): AMLC Resolution No. TF-76 Series of 2024

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Updated 12 January 2024