The Anti-Money Laundering Council (AMLC) warns the public to remain vigilant against unscrupulousindividuals and entities who offer to buy land which they, at the same time, offer as a real estate investment opportunity to other innocent people, unduly benefitting themselves at the expense the unsuspecting landowners and financiers.

These unscrupulous individuals will make it hard for the landowner to get paid for the land sold, and for the financier in the purported real estate investment to get the promised return from the investments placed.

The public is hereby advised to look out for these scammers. If fallen victim to this type of scam or came across any fraudulent emails, letters, or information related to scams resembling the aforementioned deceptive schemes, immediately report it to the AMLC through the following contact details:

ANTI-MONEY LAUNDERING COUNCIL
Address: 5/F EDPC Building, BSP Complex, A. Mabini corner P. Ocampo Sts., Malate, Manila, Philippines
Contact Number: (+632)8708-7066
E-mail Address: This email address is being protected from spambots. You need JavaScript enabled to view it.

The public may also contact the Anti-Cybercrime Group of the Philippine National Police (PNP) at (632)8723-0401 Local 7491 and This email address is being protected from spambots. You need JavaScript enabled to view it.; the Cybercrime Division of the National Bureau of Investigation (NBI) at (632)8252-6228 and This email address is being protected from spambots. You need JavaScript enabled to view it.; and/or the Fraud and Financial Crimes Division of the NBI at (632)8525-4093 and This email address is being protected from spambots. You need JavaScript enabled to view it..

Read more..

The Philippines welcomes its removal from the Financial Action Task Force (FATF)’s greylist, a milestone that underscores the country’s commitment to combat money laundering and terrorist financing.

Countries in the FATF greylist are placed under increased monitoring. This is a burdensome process for banks and other financial institutions. This process discourages correspondent banking relationships and international financial flows into the country.

The Philippines’ exit from the FATF greylist is expected to facilitate faster and lower-cost cross-border transactions, reduce compliance barriers, and enhance financial transparency. These will support business, strengthen the country's position as an attractive destination for foreign direct investment (FDI), and benefit Filipinos, particularly overseas Filipino workers (OFWs) 

Read more.

     AMLC Resolution No. 81 dated 09 May 2019 directed the issuance of an advisory to covered persons (CPs) dealing with clients who are classified under the sector of Designated Non-Financial Businesses and Professions (DNFBPs) to demand presentation of their Certificate of Registration (COR) or Provisional COR (PCOR) with the AMLC as part of Customer Due Diligence (CDD) measures under Section 3.5(b)(1) of the 2018 Implementing Rules and Regulations of the AMLA, as amended. Failure of a DNFBP to supply its P/COR is a ground to conduct enhanced due diligence measure (EDD) and/or to re-evaluate the business relationship. On the part of the CP failing to comply with this directive, it may be cited for the applicable administrative sanctions under the Rules of Procedure in Administrative Cases (RPAC). 

     All CPs must deal only with registered DNFBPs with valid or subsisting P/COR or may risk being cited for a Serious Violation under Section 2(C)(25), Rule IV, of the RPAC. 

     The updated list of Registered DNFBPs as of 27 December 2024 is posted at Registered DNFBPs. 

     For the names of newly registered DNFBPs not yet included in the list, CPs may contact for confirmation/validation the Registration Staff of the Compliance and Supervision Group, Detection and Prevention Department, at telephone numbers (632) 5302-3848, 5310-3244, 8708-7067. 

Posted at www.amlc.gov.ph on 31 Jan 2025