HILRON M.

DIOKNO SPECIALIZED CRIME INVE 2 SECTION: C2-X-02

BS-CRIM III

COMPARE THE AMENDED PROVISION OF THE MONEY LAUNDERING LAWS, RA 916O, RA 9194, RA
10167 AND RA 10365
RA 916O RA 9194 RA 10167 RA 10365

An act defining the crime of Money An act amending Republic Act An act to Further Strengthen An act to Further Strengthen the Anti-
Laundering, Providing penalties No. 9160, Otherwise known as the Anti-Money Laundering Money Laundering Law, amending for
therefor and for other purposes. the “ Anti –Money laundering Act Law, amending for the the purpose
of 2001 purpose sections 10 and 11 of RA NO. 9160 As amended.
RA NO. 9160.
Approved in September 29, 2001, Approved in March 7, 2003 Approved in June 6, 2012 Approved in February 6, 2013 during
during the Presidency of Gloria during the Presidency of Gloria during the Presidency of the Presidency of Benigno S.Aquino
Macapagal-Arroyo. Macapagal Arroyo. Benigno Aquino III III.

SECTION 1.Short Title. — This Act SECTION.1.Section.3,paragraph SECTION..1..Section 10 of SECTION 1. Section 3(a) of Republic
shall be known as the “Anti-Money (b), of Republic Act No. 9160 is Republic Act No. 9160, as Act No. 9160, as amended, is hereby
Laundering Act of 2001.” hereby amended as follows: amended, is hereby amended amended to read as follows:
to read as follows:

SEC. 3. Definitions. — For purposes of SEC. 3. Definitions. — For No Amendment for this RA SEC. 3. Definitions. — For purposes
this Act, the following terms are hereby purposes of this Act, the 10167 from RA 9160 and RA of this Act, the following terms are
defined as follows: following terms are hereby 9194 hereby defined as follows:
defined as follows:
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(a) “Covered institution” refers to: “(a) ‘Covered persons’, natural or

juridical, refer to: “(1) banks, non-
(1) banks, non-banks, quasi-banks,
banks, quasi-banks, trust entities,
trust entities, and all other institutions
foreign exchange dealers,
and their subsidiaries and affiliates
pawnshops, money changers,
supervised or regulated by the Bangko
remittance and transfer companies
Sentral ng Pilipinas (BSP);
and other similar entities and all
other persons and their subsidiaries
“(b) ‘Covered transaction’ is a “(b) ‘Covered transaction’ is a
and affiliates supervised or regulated
transaction in cash or other equivalent transaction in cash or other
by the Bangko Sentral ng Pilipinas
monetary instrument involving a total equivalent monetary instrument
(BSP);
amount in excess of Four million pesos involving a total amount in
(P4000,000.00) within five (5) excess of Five hundred
consecutive banking days.” thousand pesos (P500,000.00)
within one (1) banking day.”

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:
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“(b-1) ‘Suspicious transaction’

are transactions with covered
institutions, regardless of the
amounts involved, where any of
the following circumstances exist

“SEC. 6. Prosecution of Money

“SEC. 6. Prosecution of Money No Amendment for this RA 9194 No Amendment for this RA
Laundering. – “(b) The prosecution of
Laundering. – (b) Any proceeding from RA 9160, 10167 from RA 9160 and RA
any offense or violation under this Act
relating to the unlawful activity shall be 9194.
shall proceed independently of any
given precedence over the prosecution
proceeding relating to the unlawful
of any offense or violation under this
activity.”
Act without prejudice to the freezing
and other remedies provided.

SEC. 7. Creation of Anti-Money

SEC. 7. Creation of Anti-Money SEC. 7. Creation of Anti-Money No Amendment for this RA
Laundering Council (AMLC). —
Laundering Council (AMLC). — Laundering Council (AMLC). — 10167 from RA 9160 and RA
(5) to initiate investigations of “(5) to investigate suspicious 9194
covered transactions, money transactions and covered
laundering activities and other transactions deemed suspicious
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violations of this Act after an investigation by AMLC,

money laundering activities, and
other violations of this Act;
“(6) to apply before the Court of
(6) to apply before the Court Appeals, ex parte, for the freezing of
(6) to freeze any monetary of Appeals, ex parte, for the any monetary instrument or property
instrument or property alleged to be freezing of any monetary alleged to be laundered, proceeds
proceeds of any unlawful activity; instrument or property alleged to from, or instrumentalities used in
be the proceeds of any unlawful or intended for use in any unlawful
activity as defined in Section 3(i) activity as defined in Section 3(i)
hereof; hereof;

Added Paragraph (12). To require

From Paragraph (1), until (10)
Added Paragraph (11). Which No Added Paragraph the Land Registration Authority and all
is to “impose administrative its Registries of Deeds to submit to
sanctions for the violation of the AMLC, reports on all real estate
laws, rules, regulations and transactions involving an amount in
orders and resolutions issued excess of Five hundred thousand
pursuant thereto.” pesos (P500,000.00) within fifteen
(15) days from the date of registration
of the transaction, in a form to be
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prescribed by the AMLC. 

SEC. 10. Freezing of Monetary

SEC. 10. Freezing of Monetary SEC. 10 The court should act Instrument or Property. – the Court of
SEC. 10. Authority to Freeze- the Instrument or Property. The on the petition to freeze Appeals may issue a freeze order
AMLC may issue a freeze order, which freeze order shall be for a within twenty-four (24) which shall be effective immediately,
shall be effective immediately, on the period of twenty (20) days hours from filing of the and which shall not exceed six (6)
account for a period not exceeding unless extended by the court.” petition. If the application is months depending upon the
fifteen (15) days. SEIDAC filed a day before a circumstances of the case
The depositor shall have seventy-two nonworking day, the
(72) hours upon receipt of the notice to computation of the twenty-
explain why the freeze order should be four (24)-hour period shall
lifted. exclude the nonworking
days.” No Amendment for this RA 10365
from RA 9160, RA 9194 and RA
SEC. 11. Authority to Inquire into Bank SEC. 11. Authority to Inquire into 10167
Deposits. — the AMLC may inquire into Bank Deposits. — Added “SEC. 11. Authority to Inquire
or examine any particular deposit or something from the previous into Bank Deposits. – “For
investment with any banking institution section which is “To ensure purposes of this section,
or non-bank financial institution  compliance with this Act, the ‘related accounts’ shall
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Bangko Sentral ng Pilipinas refer to accounts, the funds

(BSP) may inquire into or and sources of which
examine any deposit or originated from and/or are
investment with any banking materially linked to the
institution or non-bank financial monetary instrument(s) or
institution property(ies) subject of the
freeze order(s).”
SEC 14. Penal Provisions-
SEC 14. Penal Provisions- SEC 14. Penal Provisions- “(d) x x x
(d) Breach of Confidentiality. The Added an information from
punishment of imprisonment ranging the same paragraph. (d) In the SEC 14. Penal Provisions-
from three (3) to eight (8) years and a case of a breach of “(d) x x x
fine of not less than Five hundred confidentiality that is published
thousand Philippine pesos or reported by media, the
(Php500,000.00) but not more than responsible reporter, writer,
One million Philippine pesos president, publisher, manager
(Php1,000,000.00), shall be imposed and editor-in-chief shall be liable
on a person convicted for a violation under this Act.”
under Section 9(c)
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As you can see, I highlighted the sentences from the old law to the new law. In order for the reader to know the amendments of the
law which include or add something.

Therefore, as I read the law, I can say that it is difficult for me first to comprehend it due to the amendments. But when I continued
reading, I found out that the precise purpose of this law is to prevent criminal activities that involved illegal money. E.g. Robbery
and Extortion, Kidnapping with ransom and et.al. Hence the crime is upgrading, that is why the Government find a way to solve this
 HILRON M. DIOKNO SPECIALIZED CRIME INVE 2 SECTION: C2-X-02
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kind of issue through amendments of law. In order to be fit in this Generation which maintain the prevention of crime, specifically
the money laundering.