RECENT

DEVELOPMENTS ON
THE ANTI-MONEY
LAUNDERING ACT

ATTY. VENCENT L. SALIDO

Deputy Director
Center for Learning and Inclusion Advocacy
Bangko Sentral ng Pilipinas
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Overview
Substantive Updates (AMLA)

Operational Updates (Evidence Gathering)

Bangladesh Bank Cyber Heist

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The AMLA, as amended

Republic Act No. 9160
(Effective: 17 October 2001)
as amended by:
a) Republic Act No. 9194
(Effective: 23 March 2003)

b) Republic Act No. 10167

(Effective: 6 July 2012)

c) Republic Act No. 10365

(Effective: 8 March 2013)

d) Republic Act No. 10927

(Effective: 29 July 2017)
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Why Do People Launder

Money?
To use and enjoy the money with impunity
a. Without detection of the unlawful activity
that produced the money; and

b. Without compromising or putting at risk

the criminal proceeds as well as the
criminal who wishes to benefit from said
proceeds
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Problems in Investigation?

 Becomes increasingly
harder to detect

 Sophistication
 Creativity
 Hidden in legitimate funds
 Number of people/institutions involved

 Contamination effects on legitimate

transactions
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Stages of ML
1. Placement – involves initial
placement or introduction of
the illegal funds into the
financial system. Banks and
other financial institutions are
usually used at this point.

Examples
• smurfing or structuring
• converted into financial instruments
• commingled with legitimate funds
• purchases of insurance contract
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Stages of ML
2. Layering – involves a series of
financial transactions during
which the dirty money is passed
through a series of procedures,
putting layer upon layer of
persons and financial activities
into the laundering process.
Examples:
 electronic transfer of funds
 disguise the transfer as a payment
for goods or services
 transfer the funds to shell
corporation
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Stages of ML
3. Integration – the money is once again
made available to the criminal with the
occupational and geographic origin obscured
or concealed. The laundered funds are now
integrated back into the legitimate economy
through the purchase of properties, businesses
and other investments.
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Terrorism Financing
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Money Laundering vs.

Terrorism Financing
Differences Money Laundering Terrorism Financing
Source of funds Proceeds from May be legitimate
criminal activities
Motivation/ Financial, profit, Ideology, publicity,
Intent monetary gain political power, etc.

Type of activity Occurs after the Supports future illegal

criminal act acts
Unlawfulness of Source/Origin of Purpose/Ultimate aim
the funds dirty funds intended for use
Amount involved Huge, needs to be Smaller, minimal, less
disguised observable
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Money Laundering vs.

Terrorism Financing
Money Laundering
Similarities Terrorism Financing
Method of Rely upon the lack of transparency of targeted
concealment financial institution
Use of non-fin Utilize underground financial networks to avoid
avenues detection
Type of activity Both may be engaged in other forms of illegal
acts to finance their activities.
Financial Both perform financial transactions which may
transactions be perfectly legal.
Cannot stand alone, both require the assistance
Vulnerability of the financial sector.
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State Policies
1. Ensure that the Philippines shall
not be used as a money
laundering site for the proceeds
of any unlawful activity.
2. Extend cooperation in
transnational investigations and
prosecutions of persons involved
in money laundering activities
wherever committed.
3. Protect and preserve the
integrity and confidentiality of
bank accounts.
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SUBIDO PAGENTE CERTEZA MENDOZA AND

BINAY LAW OFFICES v. COURT OF APPEALS
G.R. No. 216914, December 06, 2016
Because of the Bank Secrecy Act, the confidentiality of bank
deposits remains a basic state policy in the Philippines.
Subsequent laws, including the AMLA, may have added
exceptions to the Bank Secrecy Act, yet the secrecy of bank
deposits still lies as the general rule. It falls within the zones of
privacy recognized by our laws. The framers of the 1987
Constitution likewise recognized that bank accounts are not
covered by either the right to information under Section 7,
Article III or under the requirement of full public disclosure
under Section 28, Article II. Unless the Bank Secrecy Act is
repealed or amended, the legal order is obliged to conserve
the absolutely confidential nature of Philippine bank deposits.
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Salient Features
1. Criminalized money
laundering.

2. Created a financial
intelligence unit or
implementing agency.

3. Imposed requirements re:

customer identification,
record-keeping and
reporting of covered and
suspicious transactions.
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Salient Features
4. Relaxed strict bank deposit
secrecy laws.

5. Provided for freezing/

seizure/forfeiture/
recovery of dirty
money/property.

6. Provide for international

cooperation.
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The Philippines’ Financial Intelligence Unit

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Composition

1. The BSP Governor – Chairman

2. The SEC Chairperson – Member

3. The IC Commissioner – Member

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SUBIDO PAGENTE CERTEZA MENDOZA AND

BINAY LAW OFFICES v. COURT OF APPEALS
(Quasi-Judicial Power)

Plainly, the AMLC's investigation of money

laundering offenses and its determination of
possible money laundering offenses, specifically
its inquiry into certain bank accounts allowed by
court order, does not transform it into an
investigative body exercising quasi-judicial
powers. Hence, Section 11 of the AMLA,
authorizing a bank inquiry court order, cannot be
said to violate SPCMB's constitutional right to
procedural due process.
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Functions of the AMLC

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Covered Persons
(Natural or Juridical)
1. Banks, non-banks, quasi-banks, trust
entities, FX 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);
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Covered Persons
(Natural or Juridical)
2. Insurance companies, pre-need companies and all
other institutions supervised or regulated by the
Insurance Commission (IC);

3. Specific entities supervised or regulated by the

Securities and Exchange Commission (SEC),
including securities dealers, brokers, investment
houses, mutual funds, trading advisors, and other
entities administering or otherwise dealing in
currency, commodities or financial derivatives;
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Covered Persons
(Natural or Juridical)
4. Jewelry Dealers in precious metals, for transactions
in excess of Php1,000,000.00;

5. Jewelry Dealers in precious stones, for transactions

in excess of Php1,000,000.00;

6. Company Service Providers which provide services

to 3rd Parties such as acting as formation agent,
director, corporate secretary, partner or as
nominee shareholder, or providing registered office,
business address or accommodation
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Covered Persons
(Natural or Juridical)
7. Persons who provide any of the ff. services:
a) Managing client money, securities or other assets;
b) Management bank, savings & securities
accounts;
c) Organization of contributions for the creation,
operation or management of companies; and
d) Creation, operation or management of juridical
persons or arrangements, and buying and selling
business entities.
8. Casino Industry
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Covered Persons
(Natural or Juridical)
EXCLUDING: Lawyers and Accountants
 acting as independent legal professionals
 or where disclosure would compromise client
confidences or attorney-client relationship
Provided:
(i) authorized to practice in the Philippines ; and
(ii) subject to their respective codes of conduct and/or
professional responsibility or any of its amendments
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Covered Transaction
“Covered transaction” - a transaction in cash
or other equivalent monetary instrument
involving a total amount in excess of Five
Hundred Thousand Pesos (Php500,000.00)
within one (1) banking day.
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Suspicious Transaction

Suspicious transaction - a
transaction with a covered
institution, regardless of the
amount involved, where
any of the following
circumstances exist(s):
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Suspicious Transaction

1. No underlying legal or
trade obligation,
purpose or economic
justification;
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Suspicious Transaction

2. Client is not properly

identified
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Suspicious Transaction

3. Not commensurate
with the business or
financial capacity of
the client
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Suspicious Transaction

4. Structuring
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Suspicious Transaction

5. Deviation from the

profile
6. Related to an
unlawful activity
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Suspicious Transaction
7. Similar, analogous or identical to any of the
foregoing
Examples:
Questions on how to avoid
reporting/recordkeeping;
Customer attempt to influence an employee
not to file a report;
Circumvention of internal control procedures;
Short-term/no vacations, etc.
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Other reportable transactions under

R.A. No. 10365
 Jewelry dealers in precious metals
transactions in excess of Php1,000,000.00

 Jewelry dealers in precious stones

transactions in excess of Php1,000,000.00

 Land Registration Authority and all Register of Deeds

real estate transactions in excess of Php500,000.00
 Casino cash transactions in excess of
Php5,000,000.00
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Sec. 9(c) – Reporting of Covered and

Suspicious Transactions to the AMLC
(w/o Court Order)
 Covered persons shall report to the AMLC all
covered transactions and suspicious transactions .

 When reporting covered or suspicious transactions

to the AMLC, covered persons and their officers and
employees shall not be deemed to have violated R.A.
No. 1405, as amended, R.A. No. 6426, as amended,
R.A. No. 8791 and other similar laws, x x x.”
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Unlawful activity
(a.k.a. predicate offense)
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Unlawful Activity
(a.k.a. Predicate Offense)
“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 the

Revised Penal Code (RPC)

2. Drug Trafficking and other

violations of the Comprehensive
Dangerous Drugs Act of 2002
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Unlawful Activity
(a.k.a. Predicate Offense)
3. Graft and Corruption
(R.A. No. 3019, as
amended)
4. Plunder (R.A. No. 7080,
as amended)
5. Robbery and extortion
(RPC)
6. Jueteng and Masiao
(PD 1602)
7. Piracy (RPC & PD 532)
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Unlawful Activity
(a.k.a. predicate offense)
8. Qualified Theft (RPC)
9. Swindling/Estafa (RPC)
10. Smuggling (R.A. Nos. 455 &
1937)
11. Violations of Electronic
Commerce Act of 2000 (R.A.
No. 8792)
12. Hijacking (R.A. No. 6235),
Destructive Arson and
Murder (RPC)
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Unlawful Activity
(a.k.a. Predicate Offense)
13. Terrorism and Conspiracy to Commit Terrorism
(R.A. No. 9372);

14. Financing of Terrorism (R.A. No. 10168)

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Unlawful Activity
(a.k.a. Predicate Offense)
15. Bribery and Corruption of Public
Officers (RPC);

16. Frauds and Illegal Exactions and

Transactions (RPC);

17. Malversation of Public Funds (RPC);

18. Forgeries and Counterfeiting (RPC);

19. Trafficking in Persons

(R.A. No. 9208)
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Unlawful Activity
(a.k.a. Predicate Offense)
20. Violations of the Revised Forestry Code (PD 705);

21. Violations of the Philippine Fisheries Code of 1998

(R.A. No. 8550);

22. Violations of the Philippine Mining Act of 1995

(R.A. No. 7942);

23. Violations of the Wildlife Resources Conservation

and Protection Act
(R.A. No. 9147);

24. Violations of the National Caves and Cave

Resources Management Protection Act (R.A. No.
9072);
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Unlawful Activity (a.k.a.

Predicate Offense)
25. Carnapping (R.A. No. 6539);

26. Illegal/Unlawful Possession, Manufacture, Dealing In,

Acquisition or Disposition of Firearms, Ammunitions and
Explosives (PD 1866);

27. Fencing (PD 1612);

28. Illegal Recruitment (R.A. No. 8042);

29. Violations of the Intellectual Property Code;

30. Voyeurism (R.A. No. 9995);

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Unlawful Activity (a.k.a.

Predicate Offense)
31. Child Pornography (R.A. No. 9775);

32. Child Prostitution, Trafficking,

and other forms of Abuse
(R.A. No. 7610);

33. Fraudulent practices and

other violations of the
Securities Regulation Code
(R.A. No. 8799); and

34. Felonies or offenses of a similar nature that are

punishable under the penal laws of other countries.
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The Crime of ML

Money Laundering (ML) 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

(MI/P);

b) Converts, transfers, disposes of,

moves, acquires, possesses or
uses said MI/P;
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The Crime of ML
c) Conceals or disguises the true nature,
source, location, disposition, movement
or ownership of or rights with respect to
said MI/P;

d) Attempts or conspires to commit ML referred to in par.

a), b) & c);

e) Aids, abets, assists in or counsels the commission of the ML

offenses referred to in par. a), b) & c) above; and

f) Performs or fails to perform any act as a result of which he

facilitates the offense of ML referred to in par. a), b) & c)
above.
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The Crime of ML

Money Laundering is also

committed by any covered person
who, knowing that a covered or
suspicious transaction is required
under the AMLA, as amended, to be
reported to the Anti-Money
Laundering Council (AMLC), fails to
do so.
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PEOPLE v. BACLADO a.k.a. JAMES YAP

Criminal Case No. 017210-L, RTC,Lapu-Lapu City
July 28, 2016 (Transact)

Being the sole account holder, the logical conclusion,

and there can be no other, as, he was the one who tried to
withdraw the money from the account. The timing from which
withdrawals of nearly uniform amounts per day coinciding with
the day the amount of Php2,646,818.50 was credited to the
account, is an indication of the awareness of the accused of the
fact of the arrival of said amount, and an attempt to withdraw
everything, but which was limited by the cap established by the
bank for daily withdrawals. Worth pointing out as well is that per
the history of transaction under the bank account, only very
minimal amounts were deposited, and it was very unusual for the
account to suddenly be credited with millions.
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UNITED STATES v. RUDISILL, No. 98-6396

US Court of Appeals, Eleventh Circuit
September 03, 1999
(Knowledge may be established by direct evidence or inferred
from the attendant circumstances.)

Plainly, a jury could reasonably infer from these actions on the

part of Tim that he had knowledge of the conspiracies and
knowingly associated himself with them and furthered them and
sought to avoid detection of them.
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ACOSTA v. STATE
Court of Criminal Appeals of Texas.
429 S.W.3d 621 (Tex. Crim. App. 2014)
The unexplained presence of half a million dollars in cash behind
a freight truck's stereo speakers is, by itself, extremely suspicious.
The larger the sum of secreted cash, the more likely its
unexplained presence may be found to be proceeds from
criminal activity.

“A large sum of legitimate cash always has one or more proud

parents but drug money, once it is seized by law enforcement, is
often treated like an orphan child.”
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Prosecution of ML
Jurisdiction
 Regional Trial Courts
Sandiganbayan
- committed by public officers or
private persons who are in
conspiracy with such public officers.
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PEOPLE v. PINEDA, CA-G.R. CR No. 33592

Court of Appeals, 17th Division, April 26, 2013

Section 5 of RA No. 9160, as amended, places the

jurisdiction of money laundering cases in two courts –
generally, in the regional trial courts and, exceptionally, in
the Sandiganbayan. On the other hand, PD No. 1606, as
amended, circumscribes the jurisdiction of the
Sandiganbayan to offenses or felonies committed by public
officials and employees occupying positions with salary
grade “27” or higher. Indeed, these two provisions may
stand side by side and operate and function simultaneously
without contradicting each other. Accordingly, those public
officials charged with violation of RA No. 9160 who occupy
positions corresponding to salary grade “27” or higher fall
within the jurisdiction of the Sandiganbayan, while the rest
are within the jurisdiction of the regional trial court.
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Prosecution of ML
 Any person may be charged with
and convicted of both the
offense of money laundering
(subject offense) and the
unlawful activity (predicate
offense)

 The prosecution of money

laundering and the unlawful
activity shall proceed
independently.
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REPUBLIC v. GLASGOW CREDIT AND

COLLECTION SERVICES, INC., G.R. No. 170281
First Division, January 18, 2008

Regardless of the absence, pendency or outcome of a

criminal prosecution for the unlawful activity or for money
laundering, an action for civil forfeiture may be separately
and independently prosecuted and resolved.
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Sec. 11 - AMLC Authority to Inquire

With or Without Court Order
 Notwithstanding the provisions of R.A. No. 1405, as
amended, R.A. No. 6426, as amended, R.A. No. 8791, and
other laws.

 The AMLC may inquire into or examine any particular

deposit or investment, with any bank or non-bank financial
institution, including related accounts upon order of the
Court of Appeals based on an ex parte application when
there is probable cause that they are related to an unlawful
activity.
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Nature of Bank Inquiry

A bank inquiry is an extraordinary provisional relief to
effectively combat and prosecute money laundering
and terrorist financing. It is an investigative tool used
to determine the established facts and making
findings in respect thereto. The inquiry conducted by
AMLC into deposit or investment, including related
accounts, with any banking institution or non-bank
financial institution is only for the purpose of
evaluating the evidence submitted or gathered and
it is not authorized to make a final pronouncement
affecting the parties. (Subido Pagente Certeza
Mendoza and Binay Law Offices v. Court of Appeals)
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SUBIDO PAGENTE CERTEZA MENDOZA AND BINAY

LAW OFFICES v. COURT OF APPEALS
G.R. No. 216914, December 06, 2016
An ex parte application for bank inquiry by the AMLC
into certain bank deposits and investments does not
violate substantive due process, there being no
physical seizure of property involved. It is the
preliminary and actual seizure of the bank deposits or
investments in question which brings these within
reach of the judicial process, specifically a
determination that the seizure violated due process.
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Sec. 11 - AMLC Authority to Inquire

With or Without Court Order
 No Court Order needed in cases where the
unlawful activity involves Kidnapping for
Ransom (KFR), drug-related cases and
terrorist-financing cases under R.A. 10168
AMLC Resolution Court Order
KFR Other Unlawful
Drug-related Activities under
Terrorist Financing Sec 3(i) of the AMLA under
……………………………R.A. 10168
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Sec. 11 - AMLC Authority to Inquire

With or Without Court Order
 Court of Appeals shall act on the
application to inquire within 24 hours
from filing

 To ensure compliance with AMLA,

the Bangko Sentral ng Pilipinas (BSP)
may, in the course of a periodic or
special examination, check the
compliance of a covered person
with the requirements of the AMLA
and its implementing rules and
regulations.
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REPUBLIC v. BOLANTE
G.R. Nos. 190357, April 17, 2017
 For the court to issue a bank inquiry order, it is necessary for
the AMLC to be able to show specific facts and circumstances
that provide a link between an unlawful activity or a money
laundering offense, on the one hand, and the account or
monetary instrument or property sought to be examined on the
other hand.
 As it stands, the evidence relied upon by the AMLC in 2006
was still the same evidence it used to apply for a bank inquiry
order in 2008. Regrettably, this evidence proved to be insufficient
when weighed against that presented by the respondents, who
were given notice and the opportunity to contest the issuance of
the bank inquiry order pursuant to Eugenio. In fine, the RTC did
not commit grave abuse of discretion in denying the
application.
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Sec. 11 - AMLC Authority to Inquire

With or Without Court Order
 Related Accounts – accounts, the funds and
sources of which originated from and/or materially
linked to the monetary instrument(s) or property(ies)
subject of the freeze order
 Court order ex parte needed – same
procedure as in the principal account

 Authority to inquire into or examine principal

account and its related accounts shall
comply with Art. III, Sections 2 (Unreasonable
search & seizure) and 3 (Inadmissible
evidence) of the 1987 Constitution
 64

REPUBLIC v. HON. EUGENIO, JR., AS

PRESIDING JUDGE OF RTC
G.R. No. 174629, February 14, 2008
Ex-post facto law

The proscription against ex post facto laws apply to

the interpretation of Section 11, a provision which
does not provide for a penal sanction but authorizes
the inspection of suspect accounts and deposits.
 Freeze Order
A freeze order is an extraordinary and interim relief
issued by the CA to prevent the dissipation,
removal, or disposal of properties that are
suspected to be the proceeds of, or related to,
unlawful activities as defined in Section 3 (i) of RA
No. 9160, as amended. The primary objective of a
freeze order is to temporarily preserve monetary
instruments or property that are in any way related
to an unlawful activity or money laundering, by
preventing the owner from utilizing them during the
duration of the freeze order. RET. LT. GEN. LIGOT v.
REPUBLIC, G.R. No. 176944, March 6, 2013
Petition for Freeze Order
Sec. 44.
- Verified petition; RP, rep. by AMLC;
thru OSG

- Filed before the Court of Appeals

- Ex parte
 Direct Filing; Confidentiality
 with the Presiding Justice in Manila, or the
Executive Justices in Cebu City or
Cagayan de Oro City

 Docketed in a separate logbook

 Strictly confidential

 Raffled on the same day; among members

of first three (3) Div. only (10 Div.)
 Action by the CA
- Within 24 hours after filing;
- Issue freeze order upon
determination of probable cause,
based on allegations of the petition,
that M/I, property or proceeds are in
any way related to an unlawful
activity.
 Probable Cause
 This probable cause is therefore different from
the probable cause required for the institution
of a criminal action.
 The focal point of probable cause is the
sufficiency of the relation between the unlawful
activity and the property or monetary
instrument. SUBIDO PAGENTE CERTEZA
MENDOZA AND BINAY LAW OFFICES v. COURT
OF APPEALS, G.R. No. 216914, December 06,
2016
 Freeze order
 Effectiveimmediately
 Not to exceed six (6) months
depending upon the circumstances of
the case
 If no case is filed against a person
whose acct. has been frozen -
deemed ipso facto lifted.
 Extension of Six Months
As a rule, the effectivity of a freeze order may be extended by
the CA for a period not exceeding six months. Before or upon
the lapse of this period, ideally, the Republic should have
already filed a case for civil forfeiture against the property
owner with the proper courts and accordingly secure an asset
preservation order or it should have filed the necessary
information. Otherwise, the property owner should already be
able to fully enjoy his property without any legal process
affecting it. However, should it become completely necessary
for the Republic to further extend the duration of the freeze
order, it should file the necessary motion before the expiration
of the six-month period and explain the reason or reasons for
its failure to file an appropriate case and justify the period of
extension sought. (RET. LT. GEN. LIGOT v. REPUBLIC, G.R. No.
176944, March 6, 2013)
 SC Ruling
M/Gen. Carlos Garcia vs. CA,
G.R. No. 165800; 27 Nov. 2007

“Nothing in RA 9160 requires that a case

for violation of anti-money laundering laws
must be filed before the issuance of a freeze
order. X x x. There are only two requisites under
the law for the issuance of the freeze order: (1)
the application ex parte by the AMLC; and (2)
the determination of probable cause by the
CA.”
 Appeal
 Any party aggrieved by the decision or ruling of
the court may appeal to the Supreme Court by
petition for review on certiorari under Rule 45 of
the Rules of Court. (Rule on Civil Forfeiture, Title
VIII, § 57)
 When there is an issue of due process involving
an apparent conflict between Section 10 of the
AMLA and the Rule in Civil Forfeiture Cases, the
rule is relax and case is resolved on the merits in
the interest of justice. RET. LT. GEN. LIGOT v.
REPUBLIC, G.R. No. 176944, March 6, 2013
 OBJECTIVES OF FORFEITURE
- To take the facilitating property that makes
the crimes possible

- To take the criminal’s profits

- To break the criminal organizations (criminals

commit crime to gain profit)

- To prevent reinvestment of proceeds of

crime in other criminal activities
 Kinds of Forfeiture
a) Criminal forfeiture
- Dependent on criminal conviction
- Jurisdiction over the person of the accused is
necessary (in personam)
- Defendant typically must be present

b) Civil forfeiture
- Jurisdiction over the person not required
(court must exercise some control over
the property)
- Criminal conviction not necessary, can forfeit
property from dead criminals or fugitives
 SC Ruling
Republic vs. Glasgow Credit & Collection
Services, Inc., et al.
G.R. No. 170281; 18 Jan. 2008

“Forfeiture proceedings are actions in rem.

x x x. As an action in rem, it is a proceeding
against the thing itself instead of against the
person. In actions in rem or quasi in rem,
jurisdiction over the person of the defendant is
not a prerequisite to conferring jurisdiction on
the court, provided that the court acquires
jurisdiction over the res. x x x.”
 Civil Forfeiture
Republic Act No. 1379 – Forfeiture of
Unexplained Wealth

Republic Act No. 9160 – Anti-Money

Laundering Act of 2001, as amended
 Section 12 of the AMLA, as
amended
Sec. 12. Forfeiture Provisions. –
(a) 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 OSG, a verified ex-parte
petition for forfeiture, and the rules of court on
civil forfeiture shall apply
 Definition
Civil forfeiture may be defined as the
seizure and confiscation of any
monetary instrument or property, in
whole or in part, directly or indirectly,
involved in or related to an unlawful
activity under Section 3(i) or a money
laundering offense under Section 4,
Republic Act No. 9160, as amended.
Assets that may be forfeited

Any monetary instrument, property,

or proceeds representing, involving,
or relating to an unlawful activity or
a money laundering offense under
R.A. 9160, as amended.
 Provisional Asset Preservation
Order (PAPO)

-Order forbidding any transaction,

withdrawal, deposit, transfer,
removal, conversion,
concealment or other disposition
of the subject M/I, property or
proceeds
 Asset Preservation Order
(APO)

- within the 20-day period of PAPO,

summary hearing shall be
conducted;
- Respondent may show good cause
why PAPO should be lifted;
- Court may modify or lift PAPO;
otherwise, shall issue APO.
 Operational Updates

 The Philippines’ financial intelligence unit (FIU)

 serves as the national center for the receipt and
analysis of:
a) Suspicious transaction reports; &
b) Other information relevant to money
laundering, associated predicate offenses
and terrorist financing.
 Tasked to implement the AMLA
 Terrorist Financing and Suppression Law (RA 10168)
The AMLC Secretariat
 operating arm of the AMLC, headed by an Executive
Director

Executive Director

Technical
Services Staff

Compliance and Legal Services Information Management

Investigation Group Group and Analysis Group

Administrative and
Financial Services Division
Internal Procedure
Investigation (CIG)

Evaluation (LSG)

Review (E.D.)

Resolution (Council)

Filing of appropriate case

Investigative Triggers
 Suspicious Transaction Reports
 Referrals by Supervising Authorities
 Referrals by Law-Enforcement Agencies
 Referrals by foreign jurisdictions, agencies
or FIUs
 Newspaper or media reports of
unlawful/ML activities
 Citizens’ sworn complaints relating to
unlawful/ML activities
Investigative Process
 Identification of Unlawful Activity
 Tracking down assets
 Analysis of financial transactions
 Freezing and Forfeiture of Assets
 Filing of money laundering case
Investigative Tools
 AMLC Database
 Bank Inquiry
 Domestic Cooperation
- Information Exchange with LEAs
- Enlist Assistance of other Gov’t Agencies
 International Cooperation
- Foreign FIUs; Egmont Group (Secured Web)
- Mutual Legal Assistance Treaty (MLAT)
Request
- MLA from/to foreign States
 Freeze Order
Mutual Legal Assistance
The AMLC may obtain assistance from foreign
States in:
o Tracking down, freezing, restraining and
seizing assets
o Obtaining information relating to
covered/suspicious transaction, money
laundering
o Applying for an order to enter any premises,
search persons, or remove documents or
objects named in the request
o Applying for an order of forfeiture
Mutual Legal Assistance

Similarly, the AMLC may execute such

requests for mutual legal assistance from
foreign States.
Financial Records to Look For
o Deposit slips
o Withdrawal slips
o Credit / debit memos
o Cancelled checks
o Investment records
o Travel records
o Legal Contracts
Financial Records to Look For
o Telephone bills / business cards
o Computers / electronic printouts
o Account ledgers
o Incorporation / partnership papers
o Financial statements
o Income statement
Financial Records to Look For
o ATM receipts
o Certificates of stock
o Trust accounts
o Minutes of meetings
o Audited financial statements
o Cash/Currency clips
Financial Records to Look For
o Address books / diaries
o Hotel receipts
o Vehicle registration records
o Insurance policy/receipts
o Real property documents
o Loan records
Interview
o Ask informants who, where, how
money is used and given
o Check the ownership of house where
they live or conduct business
o The ownership of vehicles being used
o How bills are paid
o The bank or remittance company they
often go to
Interview
o Names and address of family members
and possible dummies
o Aliases that they use and copies of
identification cards
o Citizenship of their accomplices
o Possible business dummies/fronts of
their accomplices
Interview
o How do their accomplices pay for bills
(hotel, credit card, cellphone,
electricity, plane ticket, etc.)
o Possible businesses of accomplices
(e.g. recruitment company, remittance
agency, import-export company,
mining company, DVDs, imported
goods, travel agency, money changer,
etc.)
Other Sources of Evidence
1) SEC/DTI – Corporate/business Records
2) RDs/LRA – Real Property Records
3) LTO/MARINA – Vehicle / vessel Records
4) Bureau of Immigration – Travel Records
5) Office of the Ombudsman - SALN
6) NBI/PNP/PDEA/other LEAs- Investigation
Reports
7) Courts – Case Records
Common Methods/Analysis Employed

o Financial investigator performs either one

or combination of the following:

 Deposit/Withdrawal Analysis
 Cross-Match Analysis
 Check Analysis
 Memo/Contra Analysis
 Multiple Accounts Analysis
Graft and Corruption Typology

 Methods Used
 Use of Non-Profit Organization
 Use of Gatekeepers
 Use of Domestic Financial Institutions
 Use of Nominees – Trusted
Associates/Family
 Use of Cash
Drug Trafficking Typology

o Use of Remittance Companies

o Use of Third Parties: Third Party Laundering
o Use of Registered Businesses
o Use of Cash
o Use of the Casinos
o Use of Virtual Currency: Bit Coin
o Trade Based Money Laundering
Bangladesh Bank Cyber Heist
Bangladesh Bank Cyber Heist
Questions
Thank You

ATTY. VENCENT L. SALIDO

Deputy Director
Bangko Sentral ng Pilipinas