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Prepared by: Bacani, Cecilia F.

Presenter: Dogwe, Vrenel


RA 9160 as amended by RA 9194 and RA 10365

*Summary of Important Definitions and Punishable Acts

What is money laundering?

Republic Act No. 9160, otherwise known as the Anti-Money Laundering Act of
2001 (AMLA), as amended, defined money laundering as a scheme whereby
proceeds of an unlawful activity are transacted or attempted to be transacted,
thereby making them appear to have originated from legitimate sources.

Covered Institutions:

(1) banks, non-banks, quasi-banks, trust entities, foreign exchange dealers,

pawnshops, money changers, remittance and transfer companies and other similar
entities and all other persons and their subsidiaries and affiliates supervised or
regulated by the Bangko Sentral ng Pilipinas (BSP);

(2) insurance companies, pre-need companies and all other persons supervised or
regulated by the Insurance Commission (IC);

(3) (i) securities dealers, brokers, salesmen, investment houses and other similar
persons managing securities or rendering services as investment agent, advisor, or
consultant, (ii) mutual funds, close-end investment companies, common trust funds,
and other similar persons, and (iii) other entities administering or otherwise dealing
in currency, commodities or financial derivatives based thereon, valuable objects,
cash substitutes and other similar monetary instruments or property supervised or
regulated by the Securities and Exchange Commission (SEC);

(4) jewelry dealers in precious metals, who, as a business, trade in precious

metals, for transactions in excess of One million pesos (P1,000,000.00);

(5) jewelry dealers in precious stones, who, as a business, trade in precious stones,
for transactions in excess of One million pesos (P1,000,000.00);

(6) company service providers which, as a business, provide any of the following
services to third parties: (i) acting as a formation agent of juridical persons; (ii)
acting as (or arranging for another person to act as) a director or corporate
secretary of a company, a partner of a partnership, or a similar position in relation
to other juridical persons; (iii) providing a registered office, business address or
accommodation, correspondence or administrative address for a company, a
partnership or any other legal person or arrangement; and (iv) acting as (or
arranging for another person to act as) a nominee shareholder for another person;

(7) persons who provide any of the following services:

(i) managing of client money, securities or other assets;
(ii) management of bank, savings or securities accounts;
(iii) organization of contributions for the creation, operation or management of
companies; and
(iv) creation, operation or management of juridical persons or arrangements, and
buying and selling business entities.

Covered Transactions:
Transactions in case or other equivalent monetary instruments involving a total
amount in
excess of Php 500,000 within one banking day


KYC (Know Your Customer Rule)?
Covered institutions shall:
Prepared by: Bacani, Cecilia F.
Presenter: Dogwe, Vrenel

Establish and record the true identity of their clients based on official
In case of individual clients, maintain a system of verifying the true identity
of their clients.
In case of corporate clients, require a system verifying their legal existence
and organizational structure, as well as the authority and identification of all
persons purporting to act in their behalf.
Establish appropriate systems and methods based on internationally
compliant standards and adequate internal controls for verifying and
recording the true and full identify of their customers.

What are considered unlawful activities under the AMLA, as amended?

There are 14 unlawful activities or predicate crimes covered by the AMLA. These
are, in the order enumerated in the law:
Kidnapping for ransom, Drug offenses, Graft and corrupt practices, Plunder,
Robbery and extortion
Jueteng and masiao, Piracy on the high seas, Qualified theft,Swindling
Smuggling, Electronic Commerce crimes
Hijacking, destructive arson and murder, including those perpetrated against
non-combatant persons (terrorist acts), Securities fraud, Felonies or offenses
of a similar nature punishable under penal laws of other countries

Suspicious Transactions:
Transactions with covered institutions, regardless of the amounts involved, where
any of the
following circumstances exist:
1. There is no underlying legal or trade obligation, purpose or economic
2. The client is not properly identified
3. The amount involved is not commensurate with the business or financial
capacity of the
4. Taking into account all known circumstances, it may be perceived that the
transaction is structured in order to avoid being the subject of reporting
under this Act
5. Any circumstances relating to the transaction which is observed to deviate from
the profile of the client and/or the clients past transactions with the covered
6. The transaction is in any way related to an unlawful activity or offense under this
Act that is
about to be, or is being, or has been committed
7. Any transaction that is similar or analogous to any of the foregoing.

What is the Anti-Money Laundering Council (AMLC)? What are its powers?
The AMLC is the Philippines financial intelligence unit, which is tasked to implement
the AMLA. It is composed of the Governor of the Bangko Sentral ng Pilipinas (BSP)
as Chairman & the Commissioner of the Insurance Commission (IC) and the
Chairman of the Securities and Exchange Commission (SEC) as members. The AMLC
is authorized to:
Require and receive covered or suspicious transaction reports from covered
Issue orders to determine the true identity of the owner of any monetary
instrument or property that is the subject of a covered or suspicious
transaction report, and to request the assistance of a foreign country if the
Council believes it is necessary.
Institute civil forfeiture and all other remedial proceedings through the Office
of the Solicitor General.
Cause the filing of complaints with the Department of Justice or the
Ombudsman for the prosecution of money laundering offenses.
Prepared by: Bacani, Cecilia F.
Presenter: Dogwe, Vrenel

Investigate suspicious transactions, covered transactions deemed suspicious,

money laundering activities and other violations of the AMLA.
Secure the order of the Court of Appeals to freeze any monetary instrument
or property alleged to be the proceeds of unlawful activity.

What are the reporting requirements?

Covered institutions shall report to the AMLC all covered transactions and suspicious
transactions within five working days from occurrence thereof, unless the
Supervision Authority (the Bangko Sentral ng Pilipinas, the Securities and Exchange
Commission, or the Insurance Commission) prescribes a longer period not
exceeding ten working days. Should a transaction be determined to be both a
covered transaction and a suspicious transaction, it shall be reported as suspicious

How is reporting done?

The reports on covered and/or suspicious transactions shall be accomplished in the
prescribed formats and submitted within five business days from occurrence of the
transactions in a secured manner to the AMLC in electronic form, either via
diskettes, leased lines, or through internet facilities. The corresponding hard copy
for suspicious transactions shall be sent to AMLC at the 5th Floor EDPC Building,
Bangko Sentral ng Pilipinas Complex, Manila, Philippines. All pawnshops should
coordinate with the AMLC thru tel. nos. 523-4421, 521-5662 or 302-3979 on
reporting requirements, procedures and deadlines.

Jurisdiction of Money Laundering Cases

*Regional Trial Courts
*Sandiganbayan, if the offender is a public officer
Note: Policy Aganst political harassment: No money laundering case can be filed nor
can there be a freeze of account, against any candidate for public office during an
election campaign

Supreme Court Special Rules Re AMLA (2005):

A. Civil Forfeiture Rules:

1. Only AMLC, through OSG, may institute actions for civil forfeiture and
other remedial proceedings in favour of the State.
2. Venue: RTC, where the monetary instrument, property or proceeds
involving an unlawful activity or money laundering are located. If all or
any portion of the items is located outside Philippines, the petition may be
filed in RTC of Manila or judicial region where any portion of it is located.
B. Asset Preservation Rules:
1. Ex Parte Issuance of Provisional Order- RTC judge may issue ex parte a
provisional asset preservation order effective immediately, forbidding any
transaction, withdrawal, deposit, transfer, conversion, concealment or
other disposition of the subject monetary instrument.
2. Such order shall be effective for 20 days from day of service to the
respondent and upon each covered institution or agency.
3. Court, within 20 days, shall conduct a summary hearing at which the
respondent may for good cause show why provisional asset preservation
order should be lifted and determine whether the provisional asset
preservation order should be modified.
4. Covered Institution and Government Agencies must immediately preserve
the subject monetary instrument upon receipt of the order.

Assets subject to an asset reservation order:

1. Personal property used as instrumentalities in the commission of any unlawful
activity like computers, servers and other electronic information and
communication system, any conveyance including any vehicle, vessel and
2. Real estate, improvements or crops growing thereon or any interest therein
3. When property is perishable, it may be sold at public auction.
Prepared by: Bacani, Cecilia F.
Presenter: Dogwe, Vrenel

Freezing Rules:

1. AMLC, through OSG, may file ex parte with CA a verified petition for a
freeze order on any monetary instruments, property or proceeds relating
to the unlawful activity
2. All members of division of CA to which assigned justice belongs must act
on the petition within 24 hours.
3. Freeze order shall be issued ex parte upon a finding of a probable cause
that the subject property is related to an unlawful activity.
Freeze order shall be effective immediately for 20 days and may be
extended for a period not exceeding 6 months on motion of the petitioner.
4. Notice of the Freeze order shall be served upon the respondent or any
person acting in his behalf and such covered institution or government
agency concerned.
5. Upon receipt of the freeze order, the respondent, covered institution or
government agency shall immediately desist from and not allow any
transaction, withdrawal, deposit or transfer, removal conversion of the
account representing the subject monetary instrument, property or
6. After the post-issuance hearing required, the court shall remand the case
and transmit the records to RTC for consolidation with the pending civil
forfeiture proceedings.
7. Any party aggrieved by the decision or ruling may appeal to the Supreme
Court under Rule 45 of the rules of Court which shall not stay the
enforcement of the final order unless the SC direct otherwise.