Republic of the Philippines SECTION 3.
Section 3(i) of the same Act is further amended to read as follows:
Congress of the Philippines
Metro Manila
Twelfth Congress
Second Regular Session
Begun and held in Metro Manila, on Monday, the twenty-second day of July, two
thousand two.
Republic Act No. 9194 March 7, 2003
AN ACT AMENDING REPUBLIC ACT NO. 9160, OTHERWISE KNOWN AS THE
"ANTI-MONEY LAUNDERING ACT OF 2001"
Be it enacted by the Senate and House of Representative of the Philippines in
Congress assembled:
SECTION 1. Section 3, paragraph (b) of Republic Act No. 9160 is hereby amended 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
(PhP 500,000.00) within one (1) banking day.
SECTION 2. Section 3 of the same Act is further amended by inserting between
paragraphs (b) and (c) a new paragraph designated as (b-1) to read as follows:
"(b-1) 'Suspicious transaction' are 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
justification;
2. the client is not properly identified;
3. the amount involved is not commensurate with the business or financial
capacity of the client;
4. taking into account all known circumstances, it may be perceived that the
client's transaction is structured in order to avoid being the subject of reporting
requirements under the Act;
5. any circumstances relating to the transaction which is observed to deviate
from the profile of the client and/or the client's past transactions with the
covered institution;
6. the transactions is in a way related to an unlawful activity or offense under
this Act that is about to be, is being or has been committed; or
7. any transactions that is similar or analogous to any of the foregoing."
"(i) 'Unlawful activity' refers to any act or omission or series or combination
thereof involving or having direct relation to following:
"(1) Kidnapping for ransom under Article 267 of Act No. 3815, otherwise
known as the Revised Penal Code, as amended;
"(2) Sections 4, 5, 6, 8, 9, 10, 12, 13, 14, 15, and 16 of Republic Act No. 9165,
otherwise known as the Comprehensive Dangerous Act of 2002;
"(3) Section 3 paragraphs B, C, E, G, H and I of republic Act No. 3019, as
amended, otherwise known as the Anti-Graft and Corrupt Practices Act;
"(4) Plunder under Republic Act No. 7080, as amended;
"(5) Robbery and extortion under Articles 294, 295, 296, 299, 300, 301 and
302 of the Revised Penal Code, as amended;
"(6) Jueteng and Masiao punished as illegal gambling under Presidential
Decree No. 1602;
"(7) Piracy on the high seas under the Revised Penal Code, as amended and
Presidential under the Revised Penal Code, as amended and Presidential
Decree No. 532;
"(8) Qualified theft under Article 310 of the Revised penal Code, as amended;
"(9) Swindling under Article 315 of the Revised Penal Code, as amended;
"(10) Smuggling under Republic Act Nos. 455 and 1937;
"(11) Violations under Republic Act No. 8792, otherwise known as the
Electrinic Commerce Act of 2000;
"(12) Hijacking and other violations under Republic Act No. 6235; destructive
arson and murder, as defined under the Revised Penal Code, as amended,
including those perpetrated by terrorists against non-combatant persons and
similar targets;
"(13) Fraudulent practices and other violations under Republic Act No. 8799,
otherwise known as the Securities Regulation Code of 2000;
"(14) Felonies or offenses of a similar nature that are punishable under the
penal laws of other countries."
SECTION 4. Section 4 of the same Act is hereby amended to read as follows:
"SEC. 4. Money Laundering Offense. -- Money laundering is a crime whereby
the proceeds of an unlawful activity as herein defined are transacted, theeby
making them appear to have originated from legitimate sources. It is
committed by the following:
(a) Any person knowing that any monetary instrument or property represents,
involves, or relates to, the proceeds of any unlawful activity, transacts or
attempts to transacts said monetary instrument or property.
(b) Any person knowing that any monetary instrument or property involves the
proceeds of any unlawful activity, performs or fails to perform any act as a
result of which he falicitates the offense of money laundering referred to in
paragraph (a) above.
(c) Any person knowing that any monetary instrument or property is required
under this Act to be disclosed and filed with the Anti-Money Laundering
Council (AMLC), fails to do so."
SECTION 5. Section 7 of the same Act is hereby amended as follows:
"SEC.7. Creation of Anti-Money Laundering Council (AMLC). -- The Anti-
Money Laundering Council is hereby created and shall be composed of the
Governor of the Bangko Sentral ng Pilipinas as chairman, the Commissioner
of the Insurance Commission and the Chairman of the Securities and
Exchange Commission as member. The AMLC shall shall act unanimously in
the discharge of its functions as defined hereunder:
"(1) to require and receive covered or suspicious transaction reports from
covered institutions;
"(2) to issue orders addressed to the appropriate Supervising Authority or the
covered institutions to determine the true identity of the owner of any monetary
instrument or preperty subject of a covered transaction or suspicious
transaction report or request for assistance from a foreign State, or believed
by the Council, on the basis fo substantial evidence, to be, in whole or in part,
wherever located, representing, involving, or related to directly or indirectly, in
any manner or by any means, the proceeds of an unlawful activitity.
"(3) to institute civil forfeiture proceedings and all other remedial proceedings
through the Office of th Solicitor General;
"(4) to cause the filing of complaints with the Department of Justice or the
Ombudsman for the prosecution of money laundering offenses;
"(5) to investigate suspicious transactions and covered transactions deemed
suspicious after an investigation by AMLC, money laundering activities and
other violations of this Act;
"(6) to apply before the Court of Appeals, ex parte, for the freezing of any
monetary instrument or property alleged to be the proceeds of any unlawful
activity as defined in Section 3(i) hereof;
"(7) to implement such measures as may be necessary and justified under this
Act to counteract money laundering;
"(8) to receive and take action in respect of, any request from foreign states
for assistance in their own anti-money laundering operations provided in this
Act;
"(9) to develop educational programs on the pernicious effects of money
laundering, the methods and techniques used in the money laundering, the
viable means of preventing money laundering and the effective ways of
prosecuting and punishing offenders;
"(10) to enlist the assistance of any branch, department, bureau, office,
agency, or instrumentality of the government, including government-owned
and -controlled corporations, in undertaking any and all anti-money laundering
operations, which may include the use of its personnel, facilities and resources
for the more resolute prevention, detection, and investigation of money
laundering offenses and prosecution of offenders; and
"(11) to impose administrative sanctions for the violation of laws, rules,
regulations, and orders and resolutions issued pursuant thereto."
SECTION 6. Section 9(c) of the same Act is hereby amended to read as follows:
"(c) Reporting of Covered and Suspicious Transactions. -- Covered institutions
shall report to the AMLC all covered transactions and suspicious transactions
within five(5) working days from occurrences thereof, unless the Supervising
Authority prescribes a longer period not exceeding ten (10) working days.
"Should a transaction be determined to be both a covered transaction and a
suspicious transaction, the covered institution shall be required to report the
same as a suspicious transaction.
"When reporting covered or suspicious transactions to the AMLC, covered
institutions and their officers and employees shall not be deemed to have
violated Republic Act No. 1405, as amended, Republic Act No. 6426, as
amended, Republic Act No. 8791 and other similar laws, but are prohibited
from communicating, directly or indirectly, in any manner or by an means, to
any person, the fact that a covered or suspicious transaction report was made,
the contents thereof, or any other information in relation thereto. In case of
violation thereof, the concerned officer and employee of the covered institution
shall be criminally liable. However, no administrative, criminal or civil
proceedings, shall lie against any person for having made a covered or
suspicious transaction report in the regular performance of his duties in good
faith, whether or not such reporting results in any criminal prosecution under
this Act of any other law.
"When reporting covered or suspicious transactions to the AMLC, covered
instituting and their officers and employees are prohibited from communicating
directly or indirectly, in any manner or by any means, to any person or entity,
the media, the fact that a covered or suspicious transaction report was made,
the contents thereof, or any other information in relation thereto. Neither may
such reporting be published or aired in any manner or form by the mass media,
electronic mail, or other similar devices. In case of violation thereof, the
concerned officer and employee of the covered institution and media shall be
held criminally liable.
SECTION 7. Section 10 of the same Act is hereby amended to read as follows:
"Sec 10. Freezing of Monetary Instrument or Property. -- The Court of
Appeals, upon application ex parte 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, may issue a
freeze order which shall be effective immediately. The freeze order shall be
for a period of twenty (20) days unless extended by the court.
SECTION 8. Section 11 of the same Act is hereby amended to read as follows:
"Sec. 11. Authority to Inquire into Bank Deposits. -- Notwithstanding the
provisions of Republic Act No. 1405, as amended, Republic Act No. 6426, as
amended, Republic Act No. 8791, and other laws, the AMLC may inquire into
or examine any particular deposit or investment with any banking institution or
non-bank financial institution upon order of any competent court in cases of
violation of this Act, when it has been established that there is probable cause
that the deposits or investments are related to an unlawful activities as defined
 in Section 3(I) hereof or a money laundering offense under Section 4 hereof, "SEC. 23. Effectivity. -- This Act shall take effect fifteen (15) days after its
except that no court order shall be required in cases involving unlawful complete publication in the Official Gazette or in at least two (2) national
activities defined in Sections 3(I)1, (2) and (12). newspapers of general circulation.

"To ensure compliance with this Act, the Bangko Sentral ng Pilipinas (BSP)
may inquire into or examine any deposit of investment with any banking
institution or non-bank financial institution when the examination is made in
the course of a periodic or special examination, in accordance with the rules
of examination of the BSP.
SECTION 9. Section 14, paragraphs (c) and (d) of the same Act is hereby amended to
read as follows:
SECTION 12. Transitory Provision. -- Existing freeze orders issued by the AMLC shall
remain in force for a period of thirty (30) days after the effectivity of this Act, unless
extended by the Court of Appeals.
SECTION 13. Effectivity. -- This Act shall take effect fifteen (15) days after its complete
publication in the Official Gazette or in at least two (2) national newspapers of general
circulation.

"(c) Malicious Reporting. Any person who, with malice, or in bad faith, reports
or files a completely unwarranted or false information relative to money Approved,
laundering transaction against any person shall be subject to a penalty to six
(6) months to four (4) years imprisonment and a fine of not less than One
FRANKLIN DRILON JOSE DE VENECIA JR.
hundred thousand Philippine pesos (Php100,000.00) but not more than Five
hundred thousand Philippine pesos (Php500,000.00), at the discretion of the President of the Senate Speaker of the House of Representatives
court: Provided, That the offender is not entitled to avail the benefits of the This Act which is a consolidation of House Bill No. 5655 and Senate Bill No. 2419 was
Probation Law. finally passed by the House of Representatives and the Senate on March 5, 2003.

"If the offender is a corporation, association, partnership or any juridical OSCAR G. YABES ROBERTO P. NAZARENO
person, the penalty shall be imposed upon the responsible officers, as the Secretary of Senate Secretary General
case may be, who participated in, or allowed by their gross negligence, the House of Represenatives
commission of the crime. If the offender is a juridical person, the court may Approved: March 7, 2003
suspend or revoke its license. If the offer is an alien, he shall, in addition to
the penalties herein prescribed, be deported without further proceedings after
GLORIA MACAPAGAL-ARROYO
serving the penalties herein prescribed. If the offender is a public official or
President of the Philippines
employee, he shall, in addition to the penalties prescribed herein, suffer
perpetual or temporary absolute disqualification from office, as the case may
be.

"Any public official or employee who is called upon to testify and refuses to do
the same or purposely fails to testify shall suffer the same penalties prescribed
herein.

"(d) Breach of Confidentiality. The punishment of imprisonment ranging from

three (3) to eight (8) years and a fine of not less than Five hundred thousand
Philippine pesos (Php500,000.00) but not more than One million Philippine
pesos (Php1,000,000.00) shall be imposed on a person convicted for a
violation under Section 9(c). In the case of a breach of confidentiality that is
published or reported by media, the responsible reporter, writer, president,
publisher, manager and editor-in-chief shall be liable under this Act.

SECTION 10. Section 15 of Republic Act No. 9160 is hereby deleted.

SECTION 11. Section 23 of the same Act is hereby amended to read as follows:
 Republic of the Philippines
CONGRESS OF THE PHILIPPINES
Metro Manila
Fifteenth Congress
Third Regular Session
Begun and held in Metro Manila, on Monday, the twenty-third day of July, two
thousand twelve.
REPUBLIC ACT NO. 10365
AN ACT FURTHER STRENGTHENING THE ANTI-MONEY LAUNDERING LAW,
AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 9160, OTHERWISE
KNOWN AS THE "ANTI-MONEY LAUNDERING ACT OF 2001, AS AMENDED
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 amended to
read as follows:
"(a) Covered persons, natural or juridical, refer to:
"(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; and
"(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.
"Notwithstanding the foregoing, the term covered persons shall exclude lawyers and
accountants acting as independent legal professionals in relation to information
concerning their clients or where disclosure of information would compromise client
confidences or the attorney-client relationship: Provided, That these lawyers and
accountants are authorized to practice in the Philippines and shall continue to be
subject to the provisions of their respective codes of conduct and/or professional
responsibility or any of its amendments."
Section 2. Section 3(i) of the same Act is hereby amended to read as follows:
"(i) Unlawful activity refers to any act or omission or series or combination
thereof involving or having direct relation to the following:
"(1) Kidnapping for ransom under Article 267 of Act No. 3815,
otherwise known as the Revised Penal Code, as amended;
"(2) Sections 4, 5, 6, 8, 9, 10, 11, 12, 13, 14, 15 and 16 of Republic
Act No. 9165, otherwise known as the Comprehensive Dangerous
Drugs Act of 2002;
"(3) Section 3 paragraphs B, C, E, G, H and I of Republic Act No.
3019, as amended, otherwise known as the Anti-Graft and Corrupt
Practices Act;
"(4) Plunder under Republic Act No. 7080, as amended;
"(5) Robbery and extortion under Articles 294, 295, 296, 299, 300,
301 and 302 of the Revised Penal Code, as amended;
"(6) Jueteng and Masiao punished as illegal gambling under
Presidential Decree No. 1602;
"(7) Piracy on the high seas under the Revised Penal Code, as
amended and Presidential Decree No. 532;
"(8) Qualified theft under Article 310 of the Revised Penal Code, as
amended;
"(9) Swindling under Article 315 and Other Forms of Swindling under
Article 316 of the Revised Penal Code, as amended;
"(10) Smuggling under Republic Act Nos. 455 and 1937;
"(11) Violations of Republic Act No. 8792, otherwise known as the
Electronic Commerce Act of 2000;
"(12) Hijacking and other violations under Republic Act No. 6235;
destructive arson and murder, as defined under the Revised Penal
Code, as amended;
"(13) Terrorism and conspiracy to commit terrorism as defined and
penalized under Sections 3 and 4 of Republic Act No. 9372;
"(14) Financing of terrorism under Section 4 and offenses punishable
under Sections 5, 6, 7 and 8 of Republic Act No. 10168, otherwise
known as the Terrorism Financing Prevention and Suppression Act
of 2012:
"(15) Bribery under Articles 210, 211 and 211-A of the Revised Penal
Code, as amended, and Corruption of Public Officers under Article
212 of the Revised Penal Code, as amended;
"(16) Frauds and Illegal Exactions and Transactions under Articles
213, 214, 215 and 216 of the Revised Penal Code, as amended;
"(17) Malversation of Public Funds and Property under Articles 217
and 222 of the Revised Penal Code, as amended;
"(18) Forgeries and Counterfeiting under Articles 163, 166, 167, 168,
169 and 176 of the Revised Penal Code, as amended;
"(19) Violations of Sections 4 to 6 of Republic Act No. 9208,
otherwise known as the Anti-Trafficking in Persons Act of 2003;
"(20) Violations of Sections 78 to 79 of Chapter IV, of Presidential
Decree No. 705, otherwise known as the Revised Forestry Code of
the Philippines, as amended;
"(21) Violations of Sections 86 to 106 of Chapter VI, of Republic Act
No. 8550, otherwise known as the Philippine Fisheries Code of 1998;
"(22) Violations of Sections 101 to 107, and 110 of Republic Act No.
7942, otherwise known as the Philippine Mining Act of 1995;
"(23) Violations of Section 27(c), (e), (f), (g) and (i), of Republic Act
No. 9147, otherwise known as the Wildlife Resources Conservation
and Protection Act;
"(24) Violation of Section 7(b) of Republic Act No. 9072, otherwise
known as the National Caves and Cave Resources Management
Protection Act;
"(25) Violation of Republic Act No. 6539, otherwise known as the
Anti-Carnapping Act of 2002, as amended;
"(26) Violations of Sections 1, 3 and 5 of Presidential Decree No.
1866, as amended, otherwise known as the decree Codifying the
Laws on Illegal/Unlawful Possession, Manufacture, Dealing In,
Acquisition or Disposition of Firearms, Ammunition or Explosives;
"(27) Violation of Presidential Decree No. 1612, otherwise known as
the Anti-Fencing Law;
"(28) Violation of Section 6 of Republic Act No. 8042, otherwise
known as the Migrant Workers and Overseas Filipinos Act of 1995,
as amended by Republic Act No. 10022;
"(29) Violation of Republic Act No. 8293, otherwise known as the
Intellectual Property Code of the Philippines;
"(30) Violation of Section 4 of Republic Act No. 9995, otherwise
known as the Anti-Photo and Video Voyeurism Act of 2009;
"(31) Violation of Section 4 of Republic Act No. 9775, otherwise
known as the Anti-Child Pornography Act of 2009;
"(32) Violations of Sections 5, 7, 8, 9, 10(c), (d) and (e), 11, 12 and
14 of Republic Act No. 7610, otherwise known as the Special
Protection of Children Against Abuse, Exploitation and
Discrimination;
"(33) Fraudulent practices and other violations under Republic Act
No. 8799, otherwise known as the Securities Regulation Code of
2000; and
"(34) Felonies or offenses of a similar nature that are punishable
under the penal laws of other countries."
Section 3. Section 3 of the same Act shall have new paragraphs (j) and (k).
"(j) Precious metals shall mean gold, silver, platinum, palladium, rhodium,
ruthenium, iridium and osmium. These include alloys of precious metals,
solders and plating chemicals such as rhodium and palladium plating solutions
and potassium gold cyanide and potassium silver cyanide and silver cyanide
in salt solution.
"(k) Precious stones shall mean diamond, ruby, emerald, sapphire, opal,
amethyst, beryl, topaz, and garnet that are used in jewelry making, including
those formerly classified as semi-precious stones."
Section 4. Section 4 of the same Act is hereby amended to read as follows:
"SEC. 4. Money Laundering Offense. Money laundering is committed by any
person who, knowing that any monetary instrument or property represents,
involves, or relates to the proceeds of any unlawful activity:
"(a) transacts said monetary instrument or property;
"(b) converts, transfers, disposes of, moves, acquires, possesses or
uses said monetary instrument or property;
"(c) conceals or disguises the true nature, source, location,
disposition, movement or ownership of or rights with respect to said
monetary instrument or property;
"(d) attempts or conspires to commit money laundering offenses
referred to in paragraphs (a), (b) or (c);
"(e) aids, abets, assists in or counsels the commission of the money
laundering offenses referred to in paragraphs (a), (b) or (c) above;
and
"(f) performs or fails to perform any act as a result of which he
facilitates the offense of money laundering referred to in paragraphs
(a), (b) or (c) above.
"Money laundering is also committed by any covered person who, knowing that a
covered or suspicious transaction is required under this Act to be reported to the Anti-
Money Laundering Council (AMLC), fails to do so."
Section 5. Section 6(a) of the same Act is hereby amended to read as follows:
"SEC. 6. Prosecution of Money Laundering.
"(a) Any person may be charged with and convicted of both the
offense of money laundering and the unlawful activity as herein
defined.
"(b) The prosecution of any offense or violation under this Act shall
proceed independently of any proceeding relating to the unlawful
activity."
Section 6. Section 7 of the same Act is hereby amended to read as follows:
"SEC. 7. Creation of Anti-Money Laundering Council (AMLC). The Anti-
Money Laundering Council is hereby created and shall be composed of the
Governor of the Bangko Sentral ng Pilipinas as Chairman, the Commissioner
of the Insurance Commission and the Chairman of the Securities and
Exchange Commission, as members. The AMLC shall act unanimously in the
discharge of its functions as defined hereunder:
"x x x
"(6) to apply before the Court of Appeals, ex parte, for the freezing of any
monetary instrument or property alleged to be laundered, proceeds from, or
instrumentalities used in or intended for use in any unlawful activity as defined
in Section 3(i) hereof;
"x x x
"(12) to require the Land Registration Authority and all its Registries of Deeds
to submit to the AMLC, reports on all real estate transactions involving an
amount in excess of Five hundred thousand pesos (P500,000.00) within
fifteen (15) days from the date of registration of the transaction, in a form to
be prescribed by the AMLC. The AMLC may also require the Land
Registration Authority and all its Registries of Deeds to submit copies of
relevant documents of all real estate transactions."
Section 7. Section 9(c), paragraphs 1 and 4 of the same Act are hereby amended to
read as follows:
"SEC. 9. Prevention of Money Laundering; Customer Identification
Requirements and Record Keeping.
"(a) x x x
"(b) x x x
"(c) Reporting of Covered and Suspicious Transactions. Covered persons
shall report to the AMLC all covered transactions and suspicious transactions
within five (5) working days from occurrence thereof, unless the AMLC
prescribes a different period not exceeding fifteen (15) working days.
"Lawyers and accountants acting as independent legal professionals are not
required to report covered and suspicious transactions if the relevant
information was obtained in circumstances where they are subject to
professional secrecy or legal professional privilege.
"x x x
"x x x
"When reporting covered or suspicious transactions to the AMLC, covered
persons and their officers and employees are prohibited from communicating,
directly or indirectly, in any manner or by any means, to any person or entity,
the media, the fact that a covered or suspicious transaction has been reported
or is about to be reported, the contents of the report, or any other information
in relation thereto. Neither may such reporting be published or aired in any
manner or form by the mass media", electronic mail, or other similar devices.
In case of violation thereof, the concerned officer and employee of the covered
person and media shall be held criminally liable."
Section 8. Section 10 of the same Act, as amended by Republic Act No. 10167, is
hereby 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, and which shall not exceed
six (6) months depending upon the circumstances of the case: Provided, That
if there is no case filed against a person whose account has been frozen within
the period determined by the court, the freeze order shall be deemed 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 nonworking day, the computation of the twenty-four (24)-hour
period shall exclude the nonworking days.
"A person whose account has been frozen may file a motion to lift the freeze
order and the court must resolve this motion before the expiration of the freeze
order.
"No court shall issue a temporary restraining order or a writ of injunction
against any freeze order, except the Supreme Court."
Section 9. Section 12 of the same Act is hereby amended to read as follows:
read as follows:
"(a) Civil Forfeiture. Upon determination by the AMLC 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) or a money laundering offense
under Section 4 hereof, the AMLC shall file with the appropriate court through
the Office of the Solicitor General, a verified ex parte petition for forfeiture, and
the Rules of Court on Civil Forfeiture shall apply.
"The forfeiture shall include those other monetary instrument or property
having an equivalent value to that of the monetary instrument or property
found to be related in any way to an unlawful activity or a money laundering
offense, when with due diligence, the former cannot be located, or it has been
substantially altered, destroyed, diminished in value or otherwise rendered
worthless by any act or omission, or it has been concealed, removed,
converted, or otherwise transferred, or it is located outside the Philippines or
has been placed or brought outside the jurisdiction of the court, or it has been
commingled with other monetary instrument or property belonging to either
the offender himself or a third person or entity, thereby rendering the same
difficult to identify or be segregated for purposes of forfeiture.
"(b) Claim on Forfeited Assets. Where the court has issued an order of
forfeiture of the monetary instrument or property in a criminal prosecution for
any money laundering offense defined under Section 4 of this Act, the offender
or any other person claiming an interest therein may apply, by verified petition,
for a declaration that the same legitimately belongs to him and for segregation
or exclusion of the monetary instrument or property corresponding thereto.
The verified petition shall be filed with the court which rendered the judgment
of forfeiture, within fifteen (15) days from the date of the finality of the order of
forfeiture, in default of which the said order shall become final and executor.
This provision shall apply in both civil and criminal forfeiture.
"(c) Payment in Lieu of Forfeiture. Where the court has issued an order of
forfeiture of the monetary instrument or property subject of a money
laundering offense defined under Section 4, and said order cannot be
enforced because any particular monetary instrument or property cannot, with
due diligence, be located, or it has been substantially altered, destroyed,
diminished in value or otherwise rendered worthless by any act or omission,
directly or indirectly, attributable to the offender, or it has been concealed,
removed, converted, or otherwise transferred to prevent the same from being
found or to avoid forfeiture thereof, or it is located outside the Philippines or
has been placed or brought outside the jurisdiction of the court, or it has been
commingled with other monetary instruments or property belonging to either
the offender himself or a third person or entity, thereby rendering the same
difficult to identify or be segregated for purposes of forfeiture, the court may,
instead of enforcing the order of forfeiture of the monetary instrument or
property or part thereof or interest therein, accordingly order the convicted
offender to pay an amount equal to the value of said monetary instrument or
property. This provision shall apply in both civil and criminal forfeiture."
Section 10. Section 14 of the same Act, as amended, is hereby further amended to
"SEC. 14. Penal Provisions. (a) Penalties for the Crime of Money
Laundering. The penalty of imprisonment ranging from seven (7) to fourteen
(14) years and a fine of not less than Three million Philippine pesos
(Php3,000,000.00) but not more than twice the value of the monetary
instrument or property involved in the offense, shall be imposed upon a person
convicted under Section 4(a), (b), (c) and (d) of this Act.
"The penalty of imprisonment from four (4) to seven (7) years and a fine of not
less than One million five hundred thousand Philippine pesos
(Php1,500,000.00) but not more than Three million Philippine pesos
(Php3,000,000.00), shall be imposed upon a person convicted under Section
4(e) and (f) of this Act.
"The penalty of imprisonment from six (6) months to four (4) years or a fine of
not less than One hundred thousand Philippine pesos (Php100,000.00) but
not more than Five hundred thousand Philippine pesos (Php500,000.00), or
both, shall be imposed on a person convicted under the last paragraph of
Section 4 of this Act.
"(b) x x x
"(c) x x x
"(d) x x x
"(e) The penalty of imprisonment ranging from four (4) to seven (7) years and
a fine corresponding to not more than two hundred percent (200%) of the
value of the monetary instrument or property laundered shall be imposed upon
the covered person, its directors, officers or pesonnel who knowingly
participated in the commission of the crime of money laundering.
"(f) Imposition of Administrative Sanctions. The imposition of the
administrative sanctions shall be without prejudice to the filing of criminal
charges against the persons responsible for the violation.
"After due notice and hearing, the AMLC shall, at its discretion, impose
sanctions, including monetary penalties, warning or reprimand, upon any
covered person, its directors, officers, employees or any other person for the
violation of this Act, its implementing rules and regulations, or for failure or
refusal to comply with AMLC orders, resolutions and other issuances. Such
monetary penalties shall be in amounts as may be determined by the AMLC
to be appropriate, which shall not be more than Five hundred thousand
Philippine pesos (P500,000.00) per violation.1wphi1
 "The AMLC may promulgate rules on fines and penalties taking into This Act which is a consolidation of House Bill No. 6565 and Senate Bill No. 3123 was
consideration the attendant circumstances, such as the nature and gravity of finally passed by the House of Representatives and the Seriate on February 6, 2013.
the violation or irregularity.

"(g) The provision of this law shall not be construed or implemented in a (Sgd.) EMMA LIRIO-REYES (Sgd.) MARILYN B. BARUA-YAP
manner that will discriminate against certain customer types, such as Secretary of Senate Secretary General
politically-exposed persons, as well as their relatives, or against a certain House of Representatives
religion, race or ethnic origin, or such other attributes or profiles when used as Approved: FEB 15 2013
the only basis to deny these persons access to the services provided by the
covered persons. Whenever a bank, or quasi-bank, financial institution or
whenever any person or entity commits said discriminatory act, the person or (Sgd.) BENIGNO S. AQUINO III
persons responsible for such violation shall be subject to sanctions as may be President of the Philippines
deemed appropriate by their respective regulators."

Section 11. New sections are hereby inserted after Section 19 of the same Act, as
amended, to read as follows:

"SEC. 20. Non-intervention in the Bureau of Internal Revenue (BIR)

Operations. Nothing contained in this Act nor in related antecedent laws or
existing agreements shall be construed to allow the AMLC to participate in any
manner in the operations of the BIR."

"SEC. 21. The authority to inquire into or examine the main account and the
related accounts shall comply with the requirements of Article III, Sections 2
and 3 of the 1987 Constitution, which are hereby incorporated by reference.
Likewise, the constitutional injunction against ex post facto laws and bills of
attainder shall be respected in the implementation of this Act."

Section 12. The succeeding sections are hereby renumbered accordingly.

Section 13. Separability Clause. If any provision of this Act is declared

unconstitutional, the same shall not affect the validity and effectivity of the other
provisions hereof.

Section 14. 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 15. Effectivity. This Act shall take effect fifteen (15) days following its
publication in at least two (2) national newspapers of general circulation.

Approved,

(Sgd.) JUAN PONCE ENRILE (Sgd.) FELICIANO BELMONTE JR.

President of the Senate Speaker of the House of
Representatives