News And Announcements

AMLC Issues Guidelines on Transaction Reporting and Compliance Submissions

The Anti-Money Laundering Council (AMLC) has issued the Guidelines on Transaction Reporting and Compliance Submissions (GoTRACS).

The issuance was made in accordance with Sections 7(1), 7(2), 7(7), and 9(c) of Republic Act No. 9160, also known as the Anti-Money Laundering Act of 2001, as amended (AMLA); Rule 22, Sections 1.1, 2, 3, 7; and Rule VII, Section 4 (a), (b), and (g) of the Casino Implementing Rules and Regulations of Republic Act No. 10927. 

The GoTRACS was promulgated to provide covered persons with a set of guidelines to carry out one of their primary duties as covered persons, particularly on transaction reporting. 

The salient features of the GoTRACS are as follows: 

1. Reinstatement of some low-risk transactions as reportable CTRs  
2. Addition of low-risk transactions
3. Introduction of new STR file types
4. Mandatory uploading of Beneficial Owner (BO) information of Account Holders tagged as juridical persons for STRs
5. Addition of Transnational Organized Crime as one of the reasons for suspicion
6. Revision in the Covered Transaction and Suspicious Transaction Report Format 

Implementation Dates: 

01 May 2025 

Chapter II, Part 1, Section 1.18

Chapter II, Part 1, Section 1.19 

02 January 2026

Provisions on Low-Risk Transactions and Non-working and Non-Reporting Days 

02 January 2026 – 02 January 2028

New Reporting Format and its Guidelines

Uploading of Documents

Other Submissions

Uploading of KYC Documents and Beneficial Owner Excel Template for STRs on Judicial Persons 

To view the GoTRACS, click this link. 

Posted: 3 January 2025

Targeted Financial Sanctions in Relation to Anti-Terrorism Council Resolution No. 64 (2024): AMLC Resolution No. TF-102 Series of 2024

To download, please click the link.

Posted: 27 December 2024

INTERPOL’s "Think Twice" Cyber and Financial Crime Public Awareness Campaign

In support of INTERPOL’s "Think Twice" Cyber and Financial Crime Public Awareness Campaign, the AMLC shares the following materials to inform and guide the public on the latest cyber and financial crime threats, prevention methods, and best practices. These resources aim to raise awareness about the latest threats and provide practical prevention strategies to empower individuals in making informed decisions and safeguarding against online criminal activities:

Protect your heart and your wallet

Romance baiting scams exploit emotional connections, resulting in billions of dollars’ worth of losses through cryptocurrency schemes. 

Not everyone online is who they claim to be, but it is not your fault. #ThinkTwice about online relationships, especially when money is involved. 

Report a crime or suspicious activity to your local police https://www.interpol.int/en/What-you-Can-do/If-you-need-help 

Posted: 20 December 2024

AMLC TRAININGS (JANUARY 2025)