In its Resolution No. 59, dated 9 May 2018, the Anti-Money Laundering Council (AMLC) approved the adoption of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) Guidelines for Designated Non-Financial Businesses and Professions (DNFBPs). Said Guidelines are based on Republic Act (RA) No. 10365, which included as covered persons jewelry dealers in precious stones and metals; company service providers who deliver fund/securities management services for other persons, and persons and entities who, as a business, provide services to organize, create and manage companies and arrangements.
The Guidelines for DNFBPs were patterned largely after the “Casino Implementing Rules and Regulations” (CIRR), which the AMLC approved on 11 October 2017. Republic Act (RA) No. 10927, approved on 14 July 2017, included casinos as covered persons under RA No. 9160, or the Anti-Money Laundering Act of 2001 (AMLA) and authorized the AMLC to adopt implementing rules and regulations. Both casinos the non-financial businesses and professions above are considered DNFBPs by the Financial Action Task Force (FATF), the international policy-making body that sets standards and promotes effective implementation of measures to combat money laundering and terrorism financing.
DNFBP AML-CFT Regulatory Guidelines click here