Money Laundering and Republic Act No.
Anti-Money Laundering Act
R.A. 9160AMLA, As Amended by R.A. 9194
Subject: Business Laws and Corporate Practices
Colegio de San Juan de Letran- Graduate School
Submitted by: Michelle Ann G. Espisua
Submitted to: Atty. Kriden Balgomera
AMLA- Anti-Money Laundering Act
R.A. 9160Anti-Money Laundering Act, As Amended by R.A. 9194
These Rules shall be known and cited as the "Revised Rules and
Regulations Implementing Republic Act No. 9160” (the Anti-Money Laundering Act of
2001 [AMLA], AS AMENDED BY REPUBLIC ACT NO. 9194.
Purpose
These Rules are promulgated to prescribe the procedures and guidelines for the implementation of the AMLA, AS AMENDED BY REPUBLIC ACT
NO. 9194.
Republic Act 9160
It is an act defining the crime of money laundering, providing penalties therefor and for other purposes. This Act shall be known as the “Anti-Money Laundering Act of 2001”
R.A. 9160 Declaration of Policy
-To protect and preserve the integrity & confidentiality of bank accounts.
-To ensure that the Philippines shall not be used as money laundering site for the proceeds of any unlawful activity.
-To extend cooperation in transnational investigations and prosecutions of persons involved in money laundering activities whenever committed.
Republic Act 9160, as amended (or AMLA 2001, as amended)
Financial Action Task Force (FATF)
-FATF on money laundering is the premiere body tasked with safeguarding the global financial system.
-created in 1989 by the heads of state of the G-7 countries, to combat money laundering and terrorist financing.
FATF Report on the Philippines
On June 22, 2000 the Financial Action Task Force reported that the Philippines:
-lacks the basic set of Anti-money laundering regulations such as customer identifications, record keeping and suspicious transactions reporting;
-has strict bank provision; and
-does not have any specific legislation to criminalize money laundering
Republic Act 9160, as
R.A. 9160AMLA, As Amended by R.A. 9194
Subject: Business Laws and Corporate Practices
Colegio de San Juan de Letran- Graduate School
Submitted by: Michelle Ann G. Espisua
Submitted to: Atty. Kriden Balgomera
AMLA- Anti-Money Laundering Act
R.A. 9160Anti-Money Laundering Act, As Amended by R.A. 9194
These Rules shall be known and cited as the "Revised Rules and
Regulations Implementing Republic Act No. 9160” (the Anti-Money Laundering Act of
2001 [AMLA], AS AMENDED BY REPUBLIC ACT NO. 9194.
Purpose
These Rules are promulgated to prescribe the procedures and guidelines for the implementation of the AMLA, AS AMENDED BY REPUBLIC ACT
NO. 9194.
Republic Act 9160
It is an act defining the crime of money laundering, providing penalties therefor and for other purposes. This Act shall be known as the “Anti-Money Laundering Act of 2001”
R.A. 9160 Declaration of Policy
-To protect and preserve the integrity & confidentiality of bank accounts.
-To ensure that the Philippines shall not be used as money laundering site for the proceeds of any unlawful activity.
-To extend cooperation in transnational investigations and prosecutions of persons involved in money laundering activities whenever committed.
Republic Act 9160, as amended (or AMLA 2001, as amended)
Financial Action Task Force (FATF)
-FATF on money laundering is the premiere body tasked with safeguarding the global financial system.
-created in 1989 by the heads of state of the G-7 countries, to combat money laundering and terrorist financing.
FATF Report on the Philippines
On June 22, 2000 the Financial Action Task Force reported that the Philippines:
-lacks the basic set of Anti-money laundering regulations such as customer identifications, record keeping and suspicious transactions reporting;
-has strict bank provision; and
-does not have any specific legislation to criminalize money laundering
Republic Act 9160, as