TARLAC STATE UNIVERSITY
COLLEGE OF BUSINESS AND ACCOUNTANCY
REGULATORY FRAMEWORK FOR BUSINESS TRANSACTIONS
NOTES IN ANTI-MONEY LAUNDERING ACT
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ANTI-MONEY LAUNDERING ACT OF 2001
REPUBLIC ACT NO. 9160, as amended
SEPTEMBER 29, 2001
AMENDMENTS AND RELATED LAWS
AMENDMENTS AND RELATED LAWS
A. Implementing Rules and Regulations
of Republic Act No. 9160 Anti-Money
Laundering Act of 2001, March 8,
2002. E.
B. An Act Amending Republic Act No.
9160, Otherwise Known as the Anti-
Money Laundering Act of 2001,
Republic Act No. 9194, March 7,
2003. F.
C. Revised Implementing Rules and
Regulations of Republic Act No. 9160,
as amended by Republic Act No.
9194, August 6, 2003.
D. An Act to Further Strengthen the Anti-
Money Laundering Law, amending for
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the purpose Sections 10 and 11 of
Republic Act No. 9160, Otherwise
Known as the Anti-Money Laundering
Act of 2001, as amended, and for
other purposes, Republic Act No.
10167, June 6, 2012.
Revised Implementing Rules and
Regulations of Republic Act No. 9160,
as amended by Republic Act No. 9194
and Republic Act No. 10167,
September 15, 2012.
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,
Republic Act No. 10365, March 7,
2013.
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 NOTES IN ANTI-MONEY LAUNDERING ACT
G. 2016 Revised Implementing Rules and
Regulations of Republic Act No. 9160,
as amended, September 21, 2016.
H. An Act Designating Casinos as
Covered Persons under Republic Act
No. 9160, otherwise known as the
Anti-Money Laundering Act of 2001, B.
as amended, Republic Act No. 10927,
May 30, 2017.
I. Casino Implementing Rules and
Regulations (CIRR) of Republic Act No. C.
10927, November 4, 2017.
STATE POLICIES
DECLARED POLICIES (Section 2)
A. To protect and preserve the integrity
and confidentiality of bank accounts
and to ensure that the Philippines shall
not be used as a money laundering
site for the proceeds of any unlawful
activity.
B. Pursue the State’s foreign policy to
extend cooperation in transnational
investigations and prosecutions of
persons involved in money laundering
activities wherever committed.
COVERED INSTITUTIONS
COVERED INSTITUTIONS (Section 3)
A. Banks, non-banks, quasi-banks, trust D.
entities, foreign exchange dealers,
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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).
Insurance companies, pre-need
companies and all other persons
supervised or regulated by the
Insurance Commission (IC).
Securities and Exchange Commission
(SEC) supervised or regulated
institutions:
1. Securities dealers, brokers,
salesmen, investment houses
and other similar persons
managing securities or rendering
services as investment agent,
advisor, or consultant.
2. Mutual funds, close-end
investment companies, common
trust funds, and other similar
persons.
3. 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.
Jewelry dealers in precious metals,
who, as a business, trade in precious
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 NOTES IN ANTI-MONEY LAUNDERING ACT
metals, for transactions in excess of
one million pesos (₱1,000,000).
E. Jewelry dealers in precious stones,
who, as a business, trade in precious
stones, for transactions in excess of
one million pesos (₱1,000,000).
F. Company service providers which, as
a business, provide any of the
following services to third parties:
1. Acting as a formation agent of
juridical persons.
2. Acting as (or arranging for
another person to act as) a H.
director or corporate secretary of
a company, a partner of a
partnership, or a similar position
in relation to other juridical
persons.
3. Providing a registered office,
business address or
accommodation, correspondence
or administrative address for a
company, a partnership or any
other legal person or
arrangement.
4. Acting as (or arranging for
another person to act as) a
nominee shareholder for another
person.
G. Persons who provide any of the
following services:
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1. Managing of client money,
securities or other assets.
2. Management of bank, savings or
securities accounts.
3. Organization of contributions for
the creation, operation or
management of companies.
4. Creation, operation or
management of juridical persons
or arrangements, and buying and
selling business entities.
Casinos, including internet and ship-
based casinos, with respect to their
casino cash transactions related to
their gaming operations.
 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
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 NOTES IN ANTI-MONEY LAUNDERING ACT

professional responsibility or any relation thereto. Neither may such

of its amendments. reporting be published or aired in any
manner or form by the mass media,
OBLIGATIONS OF COVERED INSTITUTIONS electronic mail, or other similar
(Section 9) devices.

A. Establish and record, and maintain a D. Prohibit anonymous accounts,

system of verifying, the true identities accounts under fictitious names,
of clients, including the legal existence accounts opened without face-to-face
and organizational structure of a contact and all other similar accounts.
corporate client, and their Numbered accounts are allowed
representatives, based on official except for checking accounts provided
documents. that the true identities of the
customers are satisfactorily
B. Keep records of accounts and established based on official and other
transactions for five years from the reliable documents and records.
dates of accounts or transactions
whichever is later as well as keep  The Bangko Sentral ng Pilipinas
records of closed accounts for five (BSP) may conduct an annual
years from the dates when they were testing of banking institutions
closed. In case a money laundering solely limited to the
case has been filed in court, keep determination of the existence
record until the confirmation that the and true identity of the owners of
case has been finally resolved or such accounts.
terminated by the court.
COVERED TRANSACTIONS AND
C. Report covered transactions and SUSPICIOUS TRANSACTIONS
suspicious transactions to the Anti-
Money Laundering Council (AMLC) COVERED TRANSACTIONS (Section 3)
within five working days from
occurrence but are prohibited from A. A transaction in cash or other
communicating, directly or indirectly, equivalent monetary instrument
in any manner or by any means, to any involving a total amount in excess of
person or entity, the media, the fact ₱500,000 within one banking day.
that a covered or suspicious
transaction has been reported or is B. A transaction exceeding ₱1,000,000
about to be reported, the contents of in cases of jewelry dealers, dealers in
the report, or any other information in

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 NOTES IN ANTI-MONEY LAUNDERING ACT

precious metals and dealers in structured in order to avoid being the

precious stones. subject of reporting requirements.

C. A single casino transaction involving E. Any circumstance relating to the

an amount in excess of ₱5,000,000 or
its equivalent in any other currency.
SUSPICIOUS TRANSACTIONS (Section 3)
 Transactions with covered
institutions, regardless of the F.
amounts involved, where any of
the following circumstances
enumerated by law exist
transaction which is observed to
deviate from the profile of the client
and/or the client’s past transactions
with the covered institution.
The transaction is in any way related
to an unlawful activity or offense that
is about to be, is being or has been
committed.

 Should a transaction be G. Any transaction that is similar or

determined to be both a covered
and a suspicious transaction, the
covered institution shall report
the same as a suspicious
transaction.
CIRCUMSTANCES INVOLVED IN
SUSPICIOUS TRANSACTIONS
A. There is no underlying legal or trade
obligation, purpose or economic
justification.
B. The client is not properly identified.
C. The amount involved is not
commensurate with the business or
financial capacity of the client.
D. Taking into account all known
circumstances, it may be perceived
that the client’s transaction is B. Any person who, knowing that any
analogous to any of the foregoing.
MONEY LAUNDERING
MONEY LAUNDERING (Section 4)
 A crime whereby the proceeds of
an unlawful activity as defined in
the AMLA are transacted,
thereby making them appear to
have originated from legitimate
sources.
COMMISSION OF THE OFFENSE (Section 4)
A. Any person who, knowing that any
monetary instrument or property
represents, involves, or related to the
proceeds of any unlawful activity,
transacts said monetary instrument or
property.
monetary instrument or property

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represents, involves, or related to the

proceeds of any unlawful activity, G. Any covered person who, knowing
converts, transfers, disposes of, that a covered or suspicious
moves, acquires, possesses or uses transaction is required under the
said monetary instrument or property. AMLA to be reported to the Anti-
Money Laundering Council, fails to do
C. Any person who, knowing that any so.
monetary instrument or property
represents, involves, or related to the UNLAWFUL ACTIVITIES/PREDICATE
proceeds of any unlawful activity, CRIMES (Section 3)
conceals or disguises the true nature,  Refers to any act or omission or
source, location, disposition, series or combination thereof
movement or ownership of or rights involving or having direct relation
with respect to said monetary to the crimes enumerated in the
instrument or property. AMLA.

D. Any person who, knowing that any LIST OF UNLAWFUL ACTIVITIES (Section 3)
monetary instrument or property
represents, involves, or related to the A. Kidnapping for ransom under Article
proceeds of any unlawful activity, 267 the Revised Penal Code, as
attempts or conspires to commit amended (Act No. 3815. December 8,
money laundering offenses. 1930).

E. Any person who, knowing that any B.
monetary instrument or property
represents, involves, or related to the
proceeds of any unlawful activity, aids,
abets, assists in or counsels the
commission of money laundering
offenses.
F. Any person who, knowing that any
monetary instrument or property
represents, involves, or related to the
proceeds of any unlawful activity, D.
performs or fails to perform any act as
a result of which he facilitates the
offense of money laundering.
Sections 4, 5, 6, 8, 9, 10, 12, 13, 14,
15, and 16 of the Comprehensive
Dangerous Drugs Act of 2002
(Republic Act No. 9165, June 7,
2002).
C. Section 3 paragraphs B, C, E, G, H and
I of the Anti-Graft and Corrupt
Practices Act, as amended (Republic
Act No. 3019, August 17, 1960).
Plunder under An Act Defining and
Penalizing the Crime of Plunder, as
amended (Republic Act No. 7080, July
12, 1991).

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 NOTES IN ANTI-MONEY LAUNDERING ACT
K.
E. Robbery and extortion under Articles
294, 295, 296, 299, 300, 301 and 302
of the Revised Penal Code, as
amended (Act No. 3815. December 8, L.
1930).
F. Jueteng and Masiao punished as
illegal gambling under the decree
Prescribing Stiffer Penalties on Illegal
Gambling (Presidential Decree No.
1602, June 11, 1978).
G. Piracy on the high seas under the
Revised Penal Code, as amended (Act
No. 3815. December 8, 1930) and the M. Terrorism and conspiracy to commit
Anti-Piracy and Anti-Highway Robbery
Law of 1974 (Presidential Decree No.
532, August 8, 1974).
H. Qualified theft under Article 310 of the
Revised Penal Code, as amended (Act N. Financing of terrorism under Section 4
No. 3815. December 8, 1930).
I. Swindling under Article 315 of the
Revised Penal Code, as amended (Act
No. 3815. December 8, 1930).
J. Smuggling under An Act to Amend O.
Section Two Thousand Seven Hundred
and Two, And Two Thousand Seven
Hundred and Three of the Revised
Administrative Code (Republic Act No.
455, June 8, 1950) and Republic Act
No. 1937 (Tariff and Customs Code of
the Philippines, July 1, 1957).
P.
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Violations under the Electronic
Commerce Act of 2000 (Republic Act
No. 8792, June 14, 2000).
Hijacking and other violations under An
Act Prohibiting Certain Acts Inimical to
Civil Aviation, And for Other Purposes
(Republic Act No. 6235, July 4, 1971);
destructive arson and murder, as
defined under the Revised Penal Code,
as amended (Act No. 3815. December
8, 1930), including those perpetrated
by terrorist against non-combatant
persons and similar targets.
terrorism as defined and penalized
under Sections 3 and 4 of the Human
Security Act of 2007 (Republic Act
No. 9372, March 6, 2007).
and offenses punishable under
Sections 5, 6, 7 and 8 of the Terrorism
Financing Prevention and Suppression
Act of 2012 (Republic Act No. 10168,
June 20, 2012).
Bribery under Articles 210, 211 and
211-A of the Revised Penal Code, as
amended (Act No. 3815. December 8,
1930), and Corruption of Public
Officers under Article 212 of the
Revised Penal Code, as amended (Act
No. 3815. December 8, 1930).
Frauds and Illegal Exactions and
Transactions under Articles 213, 214,
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 NOTES IN ANTI-MONEY LAUNDERING ACT

215 and 216 of the Revised Penal Conservation and Protection Act
Code, as amended (Act No. 3815. (Republic Act No. 9147, July 30,
December 8, 1930). 2001).

Q. Malversation of Public Funds and X. Violation of Section 7(b) of the

Property under Articles 217 and 222 of National Caves and Cave Resources
the Revised Penal Code, as amended Management Protection Act (Republic
(Act No. 3815. December 8, 1930). Act No. 9072, April 8, 2001).

R. Forgeries and Counterfeiting under Y. Violation of the New Anti-Carnapping

Articles 163, 166, 167, 168, 169 and Act of 2016 (Republic Act No. 10883,
176 of the Revised Penal Code, as July 17, 2016).
amended (Act No. 3815. December 8,
1930). Z. Violations of Sections 1, 3 and 5 of the
decree Codifying the Laws on
S. Violations of Sections 4 to 6 of the Illegal/Unlawful Possession,
Anti-Trafficking in Persons Act of 2003 Manufacture, Dealing In, Acquisition or
(Republic Act No. 9208, May 26, Disposition of Firearms, Ammunition or
2003). Explosives, as amended (Presidential
Decree No. 1866, June 29, 1983).
T. Violations of Sections 78 to 79 of
Chapter IV, of the Revised Forestry AA. Violation of the Anti-Fencing Law of
Code of the Philippines, as amended 1979 (Presidential Decree No. 1612,
(Presidential Decree No. 705, May 19, June 15, 1979).
1975).
BB. Violation of Section 6 of the Migrant
U. Violations of Sections 86 to 106 of Workers and Overseas Filipinos Act of
Chapter VI, of the Philippine Fisheries 1995, as amended (Republic Act No.
Code of 1998 (Republic Act No. 8550, 8042, June 7, 1995 as amended by
February 25, 1998). Republic Act No. 10022, March 10,
2010).
V. Violations of Sections 101 to 107, and
110 of the Philippine Mining Act of CC. Violation of the Intellectual Property
1995 (Republic Act No. 7942, March Code of the Philippines (Republic Act
3, 1995). No. 8293, June 6, 1997).

W. Violations of Section 27 (c), (e), (f), (g) DD. Violation of Section 4 of the Anti-
and (i), of the Wildlife Resources Photo and Video Voyeurism Act of

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 NOTES IN ANTI-MONEY LAUNDERING ACT

2009 (Republic Act No. 9995,  The unlawful activity shall be

February 15, 2010). given precedence over money
laundering charge, without
EE. Violation of Section 4 of the Anti-Child prejudice to freezing and other
Pornography Act of 2009 (Republic remedies provided by the AMLA.
Act No. 9775, November 17, 2009).
JURISDICTION (Section 5)
FF. Violations of Sections 5, 7, 8, 9, 10
(c), (d) and (e), 11, 12 and 14 of the A. All cases of money laundering of the
Special Protection of Children Against Regional Trial Court (RTC),
Abuse, Exploitation and Discrimination
Act (Republic Act No. 7610, June 17, B. Those committed by public officers,
1992). and private persons in conspiracy with
such public officers, shall be within the
GG. Fraudulent practices and other jurisdiction of Sandiganbayan,
violations under the Securities
Regulation Code of 2000 (Republic Act POLICY AGAINST POLITICAL HARASSMENT
No. 8799, July 19, 2000). (Section 16)
 The AMLA shall not be used for
HH. Felonies or offenses of a similar nature political persecution or
that are punishable under the penal harassment or as an instrument
laws of other countries. to hamper competition in trade
and commerce.
 There can be separate  No case for money laundering
convictions for money laundering may be filed against and no
offense and unlawful activity assets shall be frozen, attached
constituting it. Any person may or forfeited to the prejudice of a
be charged with and convicted of candidate for an electoral office
both the offense of money during an election period.
laundering and the unlawful
activity as herein defined. The PREVENTION OF MONEY
prosecution of any offense or LAUNDERING
violation under this Act shall
proceed independently of any PREVENTION OF MONEY LAUNDERING
proceeding relating to the (Section 9)
unlawful activity. (Section 6)
A. CUSTOMER IDENTIFICATION

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 NOTES IN ANTI-MONEY LAUNDERING ACT

 Covered institutions shall unlawful activity is not necessary

establish and record the true before a report is made.
identity of its clients based on
official documents. They shall ANTI-MONEY LAUNDERING COUNCIL
maintain a system of verifying the
true identity of their clients and, ANTI-MONEY LAUNDERING COUNCIL
in case of corporate clients, (AMLC)
require a system of verifying their  The AMLC shall act unanimously
legal existence and organizational in the discharge of its functions.
structure, as well as the authority  It shall be assisted by the AMLC
and identification of all persons Secretariat in the discharge of its
purporting to act on their behalf. functions.

B. RECORD KEEPING COMPOSITION OF THE ANTI-MONEY

 All records of all transactions of
covered institutions shall be
maintained and safely stored for
five years from the dates of
transactions. With respect to
closed accounts, the records on
customer identification, account
files and business
correspondence, shall be
preserved and safely stored for at
least five years from the dates
when they were closed.
C. REPORTING OF COVERED AND
SUSPICIOUS TRANSACTIONS
 Covered persons shall report to
the AMLC all covered
transactions and suspicious
transactions within five working
days from occurrence thereof,
unless the AMLC prescribes a
different period not exceeding 15
working days. Conviction of the FUNCTIONS OF THE ANTI-MONEY
LAUNDERING COUNCIL (Section 7)
LAUNDERING COUNCIL (Section 7)
A. Governor of the Bangko Sentral, as
Chairman.
B. Commissioner of the Insurance
Commission, as member.
C. Chairman of the Securities and
Exchange Commission, as member.
 In case of incapacity, absence, or
disability of any member, the
officer duly designated or
authorized to discharge the
functions of the Governor of the
Bangko Sentral, the
Commissioner of the IC, and the
Chairperson of the SEC, as the
case may be, shall act in his
stead in the AMLC.

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 NOTES IN ANTI-MONEY LAUNDERING ACT
F.
A. To require and receive covered or
suspicious transaction reports from
covered institutions.
B. To issue orders addressed to the
appropriate Supervising Authority or
the covered institution to determine
the true identity of the owner of any G.
monetary instrument or property
subject of a covered transaction or
suspicious transaction report or
request for assistance from a foreign
State, or believed by the AMLC, on H.
the basis of 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 I.
proceeds of an unlawful activity.
C. To institute civil forfeiture proceedings
and all other remedial proceedings
through the Office of the Solicitor
General.
D. To cause the filing of complaints with J.
the Department of Justice or the
Ombudsman for the prosecution of
money laundering offenses.
E. To investigate suspicious transactions
and covered transactions deemed
suspicious after an investigation by
AMLC, money laundering activities,
and other violations of the AMLA.
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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 the AMLA.
To implement such measures as may
be necessary and justified under the
AMLA to counteract money
laundering.
To receive and take action in respect
of, any request from foreign states for
assistance in their own anti-money
laundering operations.
To develop educational programs on
the pernicious effects of money
laundering, the methods and
techniques used in money laundering,
the viable means of preventing money
laundering and the effective ways of
prosecuting and punishing offenders.
To enlist the assistance of any branch,
department, bureau, office, agency or
instrumentality of the government,
including government-owned and
government-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.
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 NOTES IN ANTI-MONEY LAUNDERING ACT
K. To impose administrative sanctions for
the violation of laws, rules, regulations
and orders and resolutions issued
pursuant thereto.
L. 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 (₱500,000) within 15
days from the date of registration of
the transaction, in a form to be B.
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.
COMPOSITION OF THE AMLC
SECRETARIAT (Section 8)
A. EXECUTIVE DIRECTOR
 The AMLC Secretariat shall be
headed by an Executive Director
who shall be appointed by the
AMLC for a term of five (5) years.
 He shall be considered a full-
time, permanent employee of the
BSP with the rank of Assistant
Governor.
QUALIFICATIONS OF THE EXECUTIVE
DIRECTOR
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1. He must be a member of the
Philippine Bar.
2. At least 35 years of age.
3. Must have served for at least five
years either at the BSP, the SEC
or the IC.
4. Of good moral character,
unquestionable integrity, and
known probity.
THOSE WHO HAVE SERVED,
CONTINUOUSLY OR CUMULATIVELY,
FOR AT LEAST FIVE YEARS IN THE
BANGKO SENTRAL, THE IC, OR THE
SEC
 All members of the Secretariat
shall be considered regular
employees of the BSP.
C. THE BANGKO SENTRAL, THE IC, OR
THE SEC, OR ANY OTHER BRANCH,
DEPARTMENT, BUREAU, OFFICE,
AGENCY OR INSTRUMENTALITY OF
THE GOVERNMENT, INCLUDING
GOVERNMENT-OWNED AND
CONTROLLED CORPORATION
 This pertains to the use of any
member of their personnel who
may be detailed or seconded to
the AMLC, subject to existing
laws and Civil Service Rules and
Regulations.
DETAILED PERSONNEL
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 NOTES IN ANTI-MONEY LAUNDERING ACT
 Shall continue to receive
their salaries, benefits and
emoluments from their
respective mother units.
SECONDED PERSONNEL
 Shall receive, in lieu of their
respective compensation
packages from their
respective mother units, the
salaries, emoluments and all
other benefits which their
AMLC Secretariat positions
are entitled to.
FREEZING OF MONETARY
INSTRUMENT OR PROPERTY
AUTHORITY TO FREEZE (Section 10)
 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 the AMLA,
the Court of Appeals may issue a
freeze order which shall be
effective immediately, for a
period of 20 days. Within the 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
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provision shall not exceed six
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 6 months, 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
24 hours from filing of the
petition. If the application is filed
a day before a no working day,
the computation of the 24-hour
period shall exclude the non-
working days.
 The freeze order or asset
preservation order issued under
the AMLA 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
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 NOTES IN ANTI-MONEY LAUNDERING ACT
offense, and the freeze order or
asset preservation order shall not TYPES OF EXAMINATION
apply to amounts in the same
account in excess of the amount A. COURT
or value of the proceeds of the
predicate offense.
 A person whose account has
been frozen may file a motion to
lift 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.
WHEN COURT OF APPEALS MAY ISSUE
FREEZE ORDER (Section 10)
A. Upon ex parte application of the
AMLC.
B. After determination that probable
cause exists that any monetary
instrument or property is in any way
related to an unlawful activity.
AUTHORITY TO INQUIRE INTO BANK
DEPOSITS (Section 11)
 The AMLC may inquire into or
examine any particular deposit or
investment, including related
accounts, with any banking
institution or non-bank financial B. NO COURT ORDER REQUIRED
institution.
 Inquiry into deposits does not
require a pre-existing criminal
case.
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ORDER REQUIRED
(EXAMINATION BY THE AMLC BASED
ON A COURT ORDER UPON EX PARTE
APPLICATION)
 In cases of violations of Republic
Act No. 9160 as amended, when
it has been established that there
is probable cause that the
deposits or investments,
including related accounts
involved, are related to an
unlawful activity or a money
laundering offense.
 The court of appeals must act on
the application within 24 hours
from the filing.
RELATED ACCOUNTS
 Refer to accounts, the funds
and sources of which
originated from and/or are
materially linked to the
monetary instruments or
properties subject of the
freeze orders.
 A court order ex parte must
first be obtained before the
AMLC can inquire into
related accounts.
1. Kidnapping for ransom under
Article 267 the Revised Penal
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 NOTES IN ANTI-MONEY LAUNDERING ACT

Code, as amended (Act No.

3815. December 8, 1930). CONGRESSIONAL OVERSIGHT
COMMITTEE
2. Sections 4, 5, 6, 8, 9, 10, 12, 13,
14, 15, and 16 of the COMPOSITION OF THE CONGRESSIONAL
Comprehensive Dangerous Drugs OVERSIGHT COMMITTEE (Section 19)
Act of 2002 (Republic Act No.
9165, June 7, 2002). A. Seven members from the Senate. The
members from the Senate shall be
3. Hijacking and other violations appointed by the Senate President
under An Act Prohibiting Certain based on the proportional
Acts Inimical to Civil Aviation, representation of the parties or
And for Other Purposes (Republic coalitions therein with at least two
Act No. 6235, July 4, 1971); Senators representing the minority.
destructive arson and murder, as
defined under the Revised Penal B. Seven members from the House of
Code, as amended (Act No. Representatives. The members from
3815. December 8, 1930), the House of Representatives shall be
including those perpetrated by appointed by the Speaker also based
terrorist against non-combatant on proportional representation of the
persons and similar targets. parties or coalitions therein with at
least two members representing the
4. Terrorism and conspiracy to minority.
commit terrorism as defined and
penalized under Sections 3 and 4 POWER OF THE CONGRESSIONAL
of the Human Security Act of OVERSIGHT COMMITTEE (Section 19)
2007 (Republic Act No. 9372,  The Oversight Committee shall
March 6, 2007). have the power to promulgate its
own rules, to oversee the
5. Felonies or offenses of a similar implementation of the AMLA,
nature to kidnapping for ransom, and to review or revise the
violation of the Comprehensive implementing rules issued by the
Dangerous Drugs Act of 2002, AMLC within 30 days from the
and hijacking which are promulgation of the said rules.
punishable under the penal laws
of other countries.

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