Four years after its launch, the Anti-Money Laundering Council (AMLC) is awarded the Best Egmont Case Award (BECA). Granted by the Egmont Group of Financial Intelligence Units, the BECA highlights the vital role of the AMLC in the investigation process, which entails tracing, freezing, and seizing the proceeds involved in the scam cited in its submitted case.
“We take pride in this win as it is an affirmation of all the hard work that the Council and the Secretariat have put in to combat money laundering in the country,” noted AMLC Secretariat Executive Director Atty. Julia C. Bacay-Abad. “I am particularly proud of the case we have submitted as it shows how cooperation among our domestic partners can prevail amidst the difficult circumstances and create a strong impact in our fight against corruption. Indeed, AMLC has become a more effective FIU and a stronger anti-money laundering or counter-terrorism financing partner, and our peers have recognized this.”
Under the international standards on combating money laundering (ML) and terrorism financing (TF), countries are required to identify, assess and understand ML and TF risks and are mandated, based on said assessment, to apply a risk-based approach to ensure that measures to prevent or mitigate ML and TF are commensurate with the risks identified. In line with this, the Office of the President issued Memorandum Circular 64, dated 20 June 2014, enjoining the heads of Departments, Agencies, Offices and Instrumentalities named in Annex A thereof to extend support and active participation in the conduct of the NRA.
Participant-Agencies for the NRA Process are as follows:
Republic of the Philippines Congress of the Philippines Metro Manila
Seventeenth Congress First Regular Session
Begun and held in Metro Manila, on Monday, the twenty-fifth day of July, two thousand sixteen.
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
Section 1. Section 3(a) of Republic Act No. 9160, as amended, is hereby further amended to read as follows:
“(a) ‘Covered persons’, natural on juridical, refer to:
“x x x
“(8) casinos, including internet and ship-based casinos, with respect to their casino cash transactiotus related to they gaming operations.
“x x x”
Section 2. Section 3(b) of Republic Act No. 9160 is hereby further amended to read as follows:
“(b) ‘Covered transaction’ is a transaction in cash or other equivalent monetary instrument involving a total amount in excess of Five hundred thousand pesos (₱500,000.00) within one (1) banking day; for covered persons under Section 3(a)(8), a single casino transaction involving an amount in excess of Five million pesos (₱5,000,000.00) or its equivalent in any other currency.
Section 3. Sector 3 of Republic Act No. 9160, as amended, is hereby further amended by inserting a new paragraph (l) to read as follows:
“x x x
“(l) For purposes of covered persons under Section 3(a)(8), the following terms are hereby defined as follows:
“(1) ‘Casino’ refers to a business authorized by the appropriate goverment agency to engage in gaming operations:
“(i) ‘Internet-based casinos’ shall refer a casinos in which persons participate by the use of remote communication facilities such as, but not limited to, internet, telephone, television, radio or any other kind of electronic or other technology for facilitating communication; and
“(ii) ‘Ship-based casino’ shall refer to casinos, the operation of which is undertaken on board a vessel, ship, boat or any other water-based craft wholly or partly intended for gambling;
“(2) ‘Casino cash transaction’ refers to transactions involving the receipt of cash by a casino paid by or on behalf of a customer, or transactions involving the payout of cash by a casino to a customer or to any person in his/her behalf; and
“(3) ‘Gaming operations’ refer to the activities of the casino offering games of chance and any variations thereof approved by the appropriate government authorities.”
Section 4. Section 10 of Republic Act. No. 9160, as amended, is hereby further amended to read as follows:
“Sec. 10.Freezing of Monetary Instrument or Property.— Upon a verified ex parte petition by the AMLC and after determination that probable cause exists that any monetary instrument or property is in any way related to an unlawful activity as defined in Section 3(i) hereof, the Court of Appeals may issue a freeze order which shall be effective immediately, for a period of twenty (20) days. Within the twenty (20)-day period, the Court of Appeals shall conduct a summary hearing, with notice to the parties, to determine whether or not to modify or lift the freeze order, or extend its effectivity. The total period of the freeze order issued by the Cout of Appeals under this provision shall not exceed six (6) months. This is without prejudice to an asset preservation order that the Regional Trial Court having jurisdiction over the appropriate anti-money laundering case or civil forfeiture case may issue on the same account depending upon the circumstances of the case, where the Court of Appeals will remand the case and its records: Provided, That if there is no case filed against a person whose account has been frozen within the period determined by the Court of Appeals, not exceeding six (6) months, the freeze order shall be seemed ipso facto lifted: Provided, further, That this new rule shall not apply to pending cases in the courts. In any case, the court should act on the petition to freeze within twenty-four (24) hours from filing of the petition. If the application is filed a day before a no working day, the computation of the twenty-four (24)-hour period shall exclude the nonworking days.
“The freeze order or asset preservation order issued under this Act shall be limited only to the amount of cash or monetary instrument or value of property that the court finds there is probable cause to be considered as proceeds of a predicate offense, and the freeze order or asset preservation order shall not apply to amounts in the same account in excess of the amount or value of the proceeds of the predicate offense.
“x x x.”
Section 5. Section of Republic Act No. 9160 is hereby amended by inserting a new paragraph a read as follows:
“Sec. 18.Implementing Rules and Regulations.—
“x x x
“x x x
“Within ninety (90) days from the effectivity of this Act, the AMLC, the Philippine Amusement and Gaming Corporation (PAGCOR) and other government regulatory agencies shall jointly promulgate the rules and regulations to implement the provisions of this Act as applicable to casinos as covered institutions. The implementing rules applicable to other covered institiations shall not apply to casinos unless it is expressly so provided under the rules and regulations to implement the provisions of this Act.”
Section 6.Separability Clauses.— If any provision of this Act is declared unconstitutional, the same shall not affect the validity and effectivity of other provisions hereof.
Section 7.Repealing Clause.— All laws, decrees, orders, and issuances or portions thereof, which are inconsistent with the provisions of this Act, are hereby repealed, amended or modified accordingly.
Section 8.Effectivity.— This Act shall take effect fifteen (15) days following its publication in the Official Gazette or in any newspaper of general circulation.
Approved,
(Sgd) PANTALEON D. ALVAREZ Speaker of the House of Representatives
(Sgd) AQUILINO “KOKO” PIMENTEL III President of the Senate
Senate Bill No. 1468, which was approved by the Senate on May 30, 2017, was adopted as an amendment to House Bill No. 5663 by the House of Representatives on May 30, 2017.
(Sgd) CESAR STRAIT PAREJA Secretary General House of Representatives
All covered persons are directed to apply enhanced due diligence in accordance with Rule 9.a.9.a in relation to Rule 9.a.9.b of the Revised Implementing Rules and Regulations (RIRRs) of the Anti-Money Laundering Act of 2001 (AMLA), as amended, relative to the jurisdictions identified in the FATF Public Statement - 19 February 2016 and to take into account the information relative to the jurisdictions mentioned in the Improving Global AML/CFT Compliance: on-going process – 19 February 2016
27 February 2015
Pursuant to AMLC Resolution No. 64, Series of 2014, all covered persons are directed to apply enhanced due diligence in accordance with Rule 9.a.9.a in relation to Rule 9.a.9.b of the Revised Implementing Rules and Regulations (RIRRs) of the Anti-Money Laundering Act of 2001 (AMLA), as amended, relative to the jurisdictions identified in the Financial Action Task Force’s (FATF) Public Statement dated 27 February 2015, and to take into account the information relative to the jurisdictions mentioned in the FATF’s Compliance Document also dated 27 February 2015.
15 December 2014
On 15 August 2014, the United Nation Secuirty Council (UNSC) adopted the Resolution No. 2170 reiterating its condemnation of the Islamic State in Iraq and the Levant (ISIL), the Al Nusrah Front (ANF), all other individuals, groups, undertakings and entities associated with Al Qaida for ongoing and multiple criminal terrorist acts aimed at causing the deaths of civilians, destruction of property, cultural and religious sites and greatly undermining stability.
The UNSC also decided that the following individuals are subject to measures such as asset freeze, travel ban and listing (designation) pursuant to UNSCR 2161 (2014);
Click here to download Complete Notice of AMLC Resolution No. TF-03.
Click here to download UN Sanction List as of December 12, 2014.
9 October 2012
The public, covered institutions as defined under the Anti-Money Laundering Act of 2001, as amended, and all relevant government agencies, including the Land Transportation Office, Land Registration Authority, Register of Deeds, Maritime Industry Authority and Civil Aviation Authority, are hereby informed that the Anti-Money Laundering Council issued Resolution No. TF-02, Series of 2012, directing the freezing without delay of property or funds, including related accounts, of the designated terrorist individuals and entities named in the Taliban 1988 Sanctions List pursuant to United Nations Security Council Resolution No. 1988.
The public is hereby reminded that Section 8 of Republic Act No. 10168, otherwise known as "The Terrorism Financing Prevention and Suppression Act of 2012" prohibits any person from either: i) dealing with any property or funds, financial or other related services to designated and/or identified persons and entities named in the Taliban 1988 Sanctions List.
Click here to download Complete Notice of AMLC Resolution No. TF-02.
Click here to download AMLC Resolution No. TF-02, Series of 2012.
Click here to download United Nations Security Council Resolutions No. 1988
Click here to download the Taliban Sanctions List.
All succeeding updates to both the Taliban 1988 Sanctions List and the Al-Qaida Sanctions List shall hereinafter be posted in the AMLC website.
2 October 2012
The public, covered institutions as defined under the Anti-Money Laundering Act of 2001, as amended, and all relevant government agencies, including the Land Transportation Office, Land Registration Authority, Register of Deeds, Maritime Industry Authority and Civil Aviation Authority, are hereby informed that the Anti-Money Laundering Council issued Resolution No. TF-01, Series of 2012, directing the freezing without delay of property or funds, including related accounts, of the designated terrorist individuals and entities named in the Al-Qaida Sanctions List pursuant to United Nations Security Council Resolution Nos. 1267/1989.
Click here to download Complete Notice of AMLC Resolution No. TF-01.
Click here to download AMLC Resolution No. TF-01, Series of 2012.
Click here to download United Nations Security Council Resolutions Nos. 1267/1989
Click here to download the Al Qaida Sanctions List.
The public is likewise reminded that Section 8 of Republic Act No. 10168, otherwise known as "The Terrorism Financing Prevention and Suppression Act of 2012" prohibits any person from either: i) dealing with any property or funds belonging to designated persons and entities; or ii) making available any property or funds, financial or other related services to designated and/or identified persons and entities named in the Al-Qaida Sanctions List.
On 18 June 2012, His Excellency President Benigno S. Aquino III, signed into law Republic Act No.10168, otherwise known as the Terrorism Financing Prevention and Suppression Act of 2012. This law took effect on 5 July 2012.
IMPLEMENTING RULES AND REGULATIONS OF REPUBLIC ACT NO. 10168
On 6 August 2012, pursuant to Section 22 of Republic Act No. 10168, otherwise known as "The Terrorism Financing Prevention and Suppression Act of 2012", the AMLC promulgated the Implementing Rules and Regulations (IRRs) of R.A. No. 10168. The IRRs were published in the Philippine Star, a newspaper of general circulation, on 11 August 2012 and took effect on 26 August 2012.
The country’s anti-money laundering watchdog has lashed out against criticisms and accusations of alleged leaked documents involving 242 bank accounts held by Vice President Jejomar C. Binay.
In a statement released over the weekend, the Anti-Money Laundering Council (AMLC) said: “The AMLC will continue to discharge its legal mandate without fear or favor.”
The statement added that it will not deign to address issues hurled at the institution by politicians whose identities were not named in the press release, if it were done outside of legal proceedings.
“Any and all issues concerning a pending case should be raised by the parties before the proper Court,” said AMLC.
The AMLC, housed within the compound of the Bangko Sentral ng Pilipinas (BSP), is chaired by BSP Governor Amando M. Tetangco Jr. and includes as members Securities and Exchange Commission head Teresita J. Herbosa and Insurance Commission chief Emmanuel F. Dooc.
