gunk SECRECY LAW (RA 1405, as A: NDED) : It hopes to dis, ‘ ose of the law: Pt courage private ho di "encourage the people to deposit their Money in banking anh same ili: 101 tit may be utilized by way of authorized loans and thereby a = 2 ono development. y assist in protBITED ACTS shall be unlawful: 1, Bank (any official or employee or independent auditor of a bank) - to disclose to any person other than a bank director, official or employee authorized by the bank, any information concerning deposits, 1, Any person, including the government —to inquire, examine or look into bank deposits or bonds issued by the government. Derosirs COVERED 1. All deposits of whatever nature with banks or banking institutions in the Philippines, including Trust Accounts. Deposits refer to money or funds placed with a bank that can be withdrawn the depositor’s order or demand, such as deposit accounts in the form of savings, current and time deposits. Deposits are characterized as being in the nature of a simple loan. The placing of deposits in a bank creates a creditor- debtor relationship between the depositor and the bank. As such, the bank, being the debtor, has the obligation to pay a certain sum of money to the depositor, being the creditor. 2 Investments in bonds issued by the Government of the Philippines, its Political subdivisions and its instrumentalities.~ Havestments in Government Bonds are debt sts St my Govemment bonds include treasury bills. treasury no SOE ya SY Excermions Peso Deposits:(WIO™® CARO TEA) 1. When theresa writen permission ofthe depositor op ec OSA acomts Deors fees sole and wont sn ray ome cl mang beeing mt ot dees pan The New Cn Beh et 783) ny apa lin pom: spe va ap compromise oe gud ce iy fy inept sthenie reed eseteswaverpg hay Ba fh requs. : 2 Impzachment cases of the Presiden, Vice Preside, meng, Supreme Court, members of the Consors eh (Commission on Elections, Civil Service Commission an © on Aut and the Ombuds fr culpable violation ec treason, bey graf and corruption, eke high crimes ehh public trust (Art XI, Sec. 2, 1957 Philippine Constitution) SM 3. Upon the order ofa competent cout in cases: Ta Biber or dein f diy of Pu ota ay plunder) Were he money deposited or invested the ube i, Involving unexplained wealth under RA 301, or the Ama, Corrupt Practices Act. ILLUSTRATION: Mr. X, located in the USA, asked Fir Nalal fay) facitate the transfer of an amount equivalent o$1,00 to Ms losis the Philippines. First National Bank instructed Mellon Bank to aca! such transfer. Mellon Bank, however, inadvertenty transfered $10 to the peso account of Ms A in Prudential Bank peso depst aout ay - aie ean Tae 0 a cog te am Te aa BRS Ges, Bie parila MEA Gece tein ne ae OT ine confidently ETO. 18 Ms 4 omy Penk epost jee See ML a virtue of the case for rece Poney depesited in |ereat Set CSO Bld by Melon Bank 4 tts cpt - |r NA. Mats, 9054 65 py” OA Depo ee ome 3 tt ce nly ep nee A 2 Bap. St roa core st oe pe eye aa + abe cman es ye AML rat out der 6 BOI are 1 the Teo of te Pippoes for encima . andere Unclaimed Balances act ros apart ol banks to AMLC of covered andlor aspisoostansations ‘ snan has the power ofssue subpoena and subpoena done, nk testimony inany investigation aringury ereckee ‘Sturessbank account and records The powers Oot, ‘pee depot intormation ofa govemment chcstog ee ney sen the following conditions concur 1) there must bea case pending, ‘ae a cout of competent usiton @) be cunt nat Benen ‘Sra ) the inspection must belied to then ganeat ee ing cose and () the bank personnel andthe scot heer ee ‘ae 0 be present during the nspeton. Marae 9 Deo 368 ScRa.772 (2001) Up order of the CA, examination by law enforcement ofies in tensa cases under the Human Secu Act of 2007 (Ra 972) + mination made 2h nthe course of a special or general examination of Bank and speielly authorized by the Monetary Board (SP) after being ‘sid that theres resonable round to beleve tha ab fat x serious iregulaity has been ori being commited and tatecessery 10 look into the deposit 10 establish sya, trepeoy BE elipie Depstinrane Commission 19, a ret poate when ev ee Td ny i eg nts Gee 4 Rep. AN Hy sre deinen on heat (CON) wo ihre a eee emmen ses peang te he ee pel Serpent ere inden rope a ee cabot peraing he Coven ages oto dg fra #4 nh ra cena gata Sr" Comtunan an res Dee No 185 4. by te Pesienal Common on Caod Govern a rect wetgaons to ene te ccumuloed. by former President Ferdinand E "Mgnt Nolan soe eo agen lea eieaas easing atid adie ‘dre protectin oft pape cnt ene oe se anther ements ce Teh Eee Oe et Hi peter sociable uate hea nc 8 ‘endure ud provided et the eaaty eet fenp oly Sn he els ere sal be or end ent ion Foreign currency deposits (FOREIGN CURRENCY DEPOSIT Acy foreign currency deposits in banks ae likewise absolutely confident ye cannot be disclosed, except: 1 When theres tien consent of depositor under Section 8 ofthe Fag Currency Deposits Act (RA 6126) 2 Under Section 11 of the Anti:Money Laundering. Act (probable ax tablished that itis elated to an unlawful activity as defined or omy laundering) 3. Under Section 27 and 28 of the Human Security Act (xistenr ¢ probable cause in antiterrorism cases and those involving pss charged with or suspected of the crime of terrorism or conepay commit terrorism, judicially declared and ovllawed tam ‘organization, assecition, or group of persons, or member of ‘organization association, or group of persons) 44 Examinations by the BSP, PDIC, PCGG and COA. Bonk accounts may be gamished by the creditors of the tn garistient, there ino violation ofthe bank secrecy law since x fine depot is tac dios spot from garnishment posts rncy epusits, Section & of RA. 6426 (except for transient oe 1 e13) ye ae following do not violate the serecy of bank deposits ret to the Commissioner of Intemal Revenue of the amount in Tumor ants as may be Suficient to stisly the writ of garnishment sao clict delinquent taxes (Ses, 205 & 208, Rep. Act No. 8424); pot 2 aos ete ad tre fe cut fr oe ting 2 Sf of gamished amounts pursuant to a wit of gamishment in sat a eran eee) Tale Rael Creo i ete gran Otepn 9 8CRA S817. Peso Deposits | Foreign Currency Deposits | Noto exceed 5 years | 1405 years [Not to exceed P20,000 | PS, 000 to F25,000 PDIC ACT (RA 3591, AS AMENDED) ‘he hilippine Deposit Insurance Corporation (PDIC) is a government iatunentalty created in 1963 by virtue of Republic Act 3591 ta insure the ‘gontsafallbanks which are entitled to the benefits of insurance. The PDIC jteatached agency ofthe Department of Finance, Tete amendments toRA 3591 ae contained in RA 10846 signed into law ‘May 23, 2016. RA 10846 empowered PDIC with stronger authorities to ot the depositing public and promote financial stability, The new law 4 includes important provisions to ensure that the PDIC remains ‘necaly and institutionally strong to fall its mandate under its Charter,= mec a mit renee ereetegr algo name eee aeons wre: te ae ta ee ya toa eS ees eee tee ntti FOX at ty, ena cay a sn mee et a or renew law enhanced the chances of recover byes asi apse of the closed bank bY Preventing he fe Soe ess = sort eo ely be ee i sect bank creditors, adoption of purchase of ws x assets (0 cows ilies asa mode of liquidation, and expres probine ion ny Sa ere erro cro ia “Thenew law d all promote and safeguard thet Functions: to act a5 permanent and ct 1. Deposit Insurer ~ the depositing Put eF01Cs pactet ae 3 ea cop oe a a ets sab 2 gain on - si sro ced Hs 3 Recerca aie te af the POIC semper’ or - postTs ser iny be de depostr etna deposits nan eared iy gation fe depostor othe insured baka ofthe date “po okt excoed FS00.00, rou aise grypes of eres aan toe por acum nol SOM) se me Deple i oragn cusrency Deposit 5 1 of maximum deposit insurance: the amount of coverage may be reeinsuchameunt for such period, andor fer such deposit produc, ri atary Board has determined tht tee is condton tat 1 jens the monetary and financial stability of the banking system that ene conoguenes ws dtned under RANE So 1 wry aunaninous vol be Bande Drea PIC ina » feng called forthe purpose and chaired by the DOF Secretary; ene Pein ofthe lps tnt 2 ofthe PDIC Charter a systemic isk refers othe possibility dle ofcoebankto settle net transactions with other banks will trigger sanction depriving other banks of funds leading oa general shutdown, toma caring and settlement activity. It also means the likelihood of» tdi snexpected collapse of confidence in a significant portion of the ‘ekg financial system with potentially large real economic eects, rg The deposit liabilities of any bank or banking institution, which is oye inthe business of receiving deposits as herein defined on the ‘rede ofthe PDIC Actor which thereafter may engage in the business ‘nog depots, shall be insured with the PDIC. i Nor: fmonn ED TO PAYME! "Sei products that resulted fom spitting of deposit.tou “Splitting of Deposit ~ occurs whenever: ng Sr Seton acount wih an outstanding bance ‘Sbroken down and tansterred totwo or more arene Pity Sr pensns or entities who have no bencfigal cent {rataforred deposits in their names: owner 'b. within 120 days immediately preceding or durin * ce ee Se a, ‘saat Monetary Board ng He msi Sa efor the purpose of coverage “This is considered a criminal ct punishable by imy than 6 yearsbut aot more than 12 years oF fine not ene eth pot more than P10,00,000, or both tthe discretion of they th 2. Deposit products or money placements by the epost rotator mone paceman att 5, Deposits that are determined fo be the proceeds of an aalawig? ‘as defined under RA 9160 or the Anti-Mor sta amended mes taunting «eee payable tna place aude he Pppines ie ta branches) a oar counts or traactions which are unfendd an fictitious of fraudulent Deposit accounts or transactions constituting andlor enani lnngafe and unsound banking practices, ab determine by cy cans ation with BSP, alter due notice and hearing and pubis, ceace and desist order issued by PDIC against such depost sus, transactions. 7. Investment products such as bonds and securities trst sat other similae instruments Fntains P250,000 in ABC Bank's Mank es TLLUSTRATION: Mr. X mai 1US Branch. In the event ofa csoe At and 300,000 in ABC Bank's Bank, how much is Mr. X's insured deposit? [answer so Sow te Pan cee 9 Branch isnot covered being payable ouside ofthe Phil fT ppsmusATION OF TMEAMOUNT Dut tellement depos naan se oe depos with A Bank and ® Bak ae a 9,000 insurance cover ra ae foreach ——— aah en tor Pe Capuity Bale depois se capac forhinbencit ether na aa eter need rpeer in eee oe 7 ‘of the type of account, ning the K maintained inthe name or in the name ‘cured amount, end jews Trt a TO oF ore va By" account Juan by Pedro) Juan ic tre ges 3” othe 2 fo TTF" account Juan ITF | Juan is the, it pom 5 meta Quen TF Pao) Pele eS 2 BeeAO” srt Jaen FAO Pedy ean ePoto 's the depositor. axinl Acounts: All individual accounts of where ownership Is ves all be nate we ie vested in im, shall be insure sg ong the be insured to rate ed 10.9 maximum of |(MISTRATION: How much is Fe Santos's; Sin insired De SST] [feouatname ‘Teun For the Account of | = 7 coe ‘Gute Santos In Trust For Fe |on sve Hou | aro acon 4 on aecunt esr wate ty eit cc an sal be sd soa on og co et acemn grvised ta ma "rise pour el ily by two 0 MOT at pen 1 pera arenes he moun mares ey Tuided nto a» many equal shares a there ae indie ay eet rents uless 2 diferent sharing i sete Eocument of deposit and ny iT necunt held By a ure! person oF ety ay gg, ae vos person, the maximum insured epost shat rehang ently to such uidcal person or entity |, wisn had another joint account with Jose, 2 Ranou, now much the total insured andy the balanoe of whichis ninsuted deposit ofan ers Pov rt, om erates] | fea osetoen c at scee Sraximum insured deposit of F500,000- pn Care of he el 30 tg it i ae already exhausted the ividualy owned account by the depot gage | 0 nna scone OR THERDIC «depron bth niin amg] Pe sl meee trninaton of sud Insts 3 ri bo}0w- PD ach] | apa te Sel ok sons ener an for + ICs give notice to the depositors oft closed ia foal sot count Steominnmlnanedoatera, icra eae gs] on means deed appropri ye 1 Cal te oti once ek fren scot [typ a | f when appropriate, in ges Bean mae] errisein community orammnacr eat 8 ee | Bao nc he 0000 enti Tppleaeto then ara PD G0 surance Cove. Unf of Deposit: No ownerfholder at | etal be recognized as a depositor ‘stshs mime is registered as owner/h sgink of any negotiable certificate of entitled to the rights in PDIC Act wolder thereof in the books of the i 1 Cruz _ tf Dela Graz OR Pedro Dela Cruz |i Cuan Howe much i the oa insured and uninsured eo <2) Gh his ar led during the toring the lms st oe ‘mad in the Notice to tlement operations period, as Pepositors published in national or local ANSWER:fa cor posted inthe bank premises and conspicyg,. ‘newspapers or pos website 04 py the locality, and in the FDIC: “ Ths ie fle clin Pt dept AS Wh Kany Popto00 mh a 2p nave ousting aon win gg Fe ama fps 1 eile stn Prcgy Perera address in the bark records OF Who have pat "Ay, Feito ng Aes Up arg a the POIe BPO panini etd th gD Oa at gs efeael eakmcmleh Sa ks meg fr ery poy, Denman it ssa bln per avioe cf ne ‘hw NOT rere fl dims: Deposits with valid depo Piso a Pant and below oe Mo reed oe ae they have no obligations with the closed bank and have ea P*%iy updated sarees inthe bank records oF hve updated tne ge bling Areas Update Form (AUP) ved bythe FDIC pg eho talances of Pp10,000 and below ay update ren Ine MAUE and sb to PDIC representatives atone ay roms before the rt he ont cans setlement penne ‘These depositors are entitled to immediatelealy. payment gf insurance claim as part of PDIC’ initiative to provide conveniene depositors. Payments o these depositors ae sent 2 Postal money the depositors’ mailing addresses, epug al deny Who should sign the insurance claim? 1. Depositor ofthe account ~for depositors 18 years old and above arent ~ ifthe depositor is below 18 years old “Agent in the case of “By” accounts Trustee ~ inthe case of In Teus for (ITF" accounts Each Deposit - in the case of int accounts such 38 "Or", “Andy “And” accounts 2 3 4 5. oe tposior to file and enforce cai te de fr Oe claim - 2 years from actual of akove ofthe closed bank: Petiod tofile adam enforce claim ~2yearsaterthe2 ort’ 1 ge THe PIG IN deen may ey of ying ese deposi anya Mf ins abe astothe valty ofa aim tray ree pee POI sy eompetetjradition before paying sae gave Setermination sein oF OM-npOenet fain wit of tepositor ag inthe periods above: efep oft derotr sin te oc with respect to the insured es of te epost aaa he 908 ership estat 0 which PD > ote pon revert the depositor je dachargd fom ay a pal be discharg 9 Habit onthe nsued depot, losed bank and its shareholders IC may have become subrogated, . yment: made &3 Soon as possible eit onospeoment Possible either: oe ay le to eack 17 ing avalible 1 ech depot «rere depot in ener 1 B20 Pekin onamoun! eq ore depts ag of pent The POX ay we pymet sah rn ep e pyc fay tatty eae deel the csed bt, ool ny ayo nah oa teenies mer whch alban are oh wing dermatoses kay sab ey tof pent: IC sal suboptedWl ighs f he depstor ard bata thee ofetpymet Seed sete tom te Pot of Pleo ree te ne ee mi em heen te sat foc candor ro ciel Labiy me wo have ban yn oe 1a dam or tensed Spots tsa cece als eet any wieied pon dees tinder Setion 21 of the PDIC Charter, payment of an insured deposit to any son by PDIC shall discharge the PDIC, and payment of transferred depositask orby a insured bank ny, able shall discharge PDIC ang ph th = son bythe neve sens same exent that PAYER! to "ischarged it rom Lbility forthe weary pe Sept serra Po See ant would ave pence a pment PORE SHEL PO Pree A a ch MB con othe aro a ue tthe National Govenme rts Mec De) o NEC. POI Fete ef et Baton py re a eng 2 oO PPO IS ae = “Turabtion of ets has Bon made tte lain Ganon om the to i 7 My ih pa mae ahs, * ey are they Ped forthe POIC 19 cum ox within6 moth fo he dt mwas doe es rave ane Stay shall upon cone Sa ok = Failure to settle thee Insured deposit, where such fails irons negligence, bad faith o malic, rons nee ietrers or employees of PDIC responsible Ponsible for ge imprisonment rom 6 months to. YER. 1 sll not epply if the validity ofthe claim, sw by another office, body oy 9, Except thatthe peri resolution of issues of facts and/or 1s ANTI-MONEY LAUNDERING ACT (RA 9169 AMENDED BY RA 9194) aS ‘Money LAUNDERING ‘evime committed by any person knowing that any monetary inst propery represents involves o latest, the proceeds of ay sige, aan activity Je ransacis or attempts to transact said monetary instrument o tor pope 2 Converts, transfers, disposes of, moves, acquites, ossesses ory monetary instrument or property; se 1 Soe eu ast I OF couse he 25 the trve nature, sou wth ey yy 0 ase cette cei a Geren oF POPE Hes const 0 CON mo oe Yaseen feed vo location, apostion, PEC YO kd monetary Min roe elered to sbove 1 gg TM OF the money eee ra em se tees manne a tt ei + pelleted by file to repo We he ne a 2 ere cnr pce se Landing Sen heaton eed Snr a ee eee re te iit Money Laundcnog ea Ee lnundere inserts ity mone ce lity money int legitimate franca 1 fiat olves_ sen ane” oe ing money hon , bre changes form snd maleitmor inicio aoe Nat thn lage the money re-enters maces oe ooking f™, appering mainstem economy in ia s rPpearNg to have come from legitimate sss ACIS pss osion oF series oF combination the Joe fltotng of involving or having ni ping fr ransom under Arie 27 of RRC 1 Nise 7 89,1213 14, Sand 16 of Comprehes 2 Sage Act (RA 9365) prehensive Dangerous rpontation of prohibited drugs Boot profited drugs ‘niminstrator. ot prohibited drugs Detibution of prohibited drugs Fensporation ot prohibited drugs Nainenance of de, dive, or reso for prohibited Mater ol pei Pessession of prohibited drugs {ee of prohibited drugs Catvation of plonts which are sources of probbited drugste Catture of plants which are sources of prohibi 14. Secon 3, pargraphs B, CEG, Hand Lot RA 3019 8 re Soca Pracices Act Ppmaperindt tei ream preg bt elo a wth conrat of aneaction eanecton ry th, Sey party wherein the public officer nhs winger oY intervene under the law ace Dic del etn o cing any gy” NY cher pecuniary mater Beet or ims or ag. Sty aon for wom he pubic, nay eae Is secre retained, o wll secur rab nore fermi or nse ncnsideraton ore ep ghee eh) Exiga une nf any pon ican yh orn a pat pity ny warned en preernce in he discharge of Ns offic admimtege ag fancons through manifest partiality, evideny bay Soret inexcusable negligence ‘Mt oy gt Emering_ on befall of the GOVERN, ito any transaction manifestly and grossly disadvantage tg srhether orn the publ oer profited or wil rot at Bay ori ang tn or peut bass conto or eancion neon yg interns or aes pt in his tcl capacity Np pried by the Catton ot by ay hw fa SAS interest, ig Directly or indirectly becoming interested, for person iv having mate interes in any tansacion or tr ge approval ofa board, panel oF SOUP of which he fa mee sicher odctetonnsschapprvaevenitnene the same or he does nol artcipae in the acon Oy commitee panel, group the ne Plunder under RA 7080 Robbery and extortion under Arties 234, 295,296,299, 5, ofRPC ate 2, Robbery with violence or intimidation of persons 1 Robbery with physica injuries, come In an unnhabieg and bya band or with use of firearms on a street rad orally? ay ou Dg ‘ in an uninhabited house «Roget wort Publis building or ence thet of person py so tiene or itimidalon of pene An an but ee ee tO things, not non ‘activity under the yas ier the AMLA. Uni wha a ait rou ena ‘cue wes commited i Pa He ibe Quid The whine en whch sen 998 0 which ao gt nee act Fe tl whch he cove i A Fig wee laveful activity. and mass under PO 12 ect high eas under RPC and PO sx ee ghse ayn Pppie wae ‘Naira and sbeting Pte ad rgands inet under Arce Date ci esl under A of Sing det RASS and RA 1837 1 See recroni Commerce Ae (RA Sm) vel and ober Violations under Ra gaan 2 enon ad mde Jed ander REC nd conspleacy to comme ma Tors 8 fined and pn 1 Tea ve anf Repub A No ot ae sae Sg of terrorism under Section 4 and, = ‘fers purishbl under esa 6 Tard Sof Republe Ac Ne ilsbaterren he see settee Foacng Prevention nd Supprenien ate ane «Tey under Ales 210 21 and 21h of he ead Pal Cade Bey | Compton of Poe i eri Pe ode as arene Peal Cote os amended fs an egal Exactions and Tenens under Ailes 219,214 Fe 16 ofthe Revised Pera Coe ae amended ig anweration of Public Funds and Proper ner Aries 217 and 72 Maeve Penal Code as amended sp fomuen and Counterfeiting under Aries 16,166,167, 16,169 and Mouth Revised Penal Code, as amend sn tts of Sections to 6 of Republic Act No.2, otherwise known {bib Anti-Tafickingin Persons Ac of 203y ai Womtensol Scns 7107901 RIPETV Pra, "Mn, sid Jos eerwise known as the Revised Forestry Cogy ea asamended Pett. 22, Violaons of Sections B60 106 of Chaper VL. of Ry i terse koown 3 the Philippine Fisheries Coden Aa 2, Violators of Sections 101 t0 107, and 110 of Repay” . others own asthe Philippine Ming Act of pga AS yy 24, Violations of Section 271 © (8 (8) And (of Repay, : tterwie known asthe Wildlife: Resource Ce AG, Protection Act ser 25, Vaton of Section 70) of Republic Act No, 972g 8 aCe Rares Manage 2s Volatun of Repble At No. 6538, other tage Cg ‘Cemmapping Act of 2002, as amended eat az Vt Secon 3 5 of Present Dag mended, ctberrse how as the decree Coins iegalUnlawulPosession Manufacture, Dealing 22,0 lh Disposition of Firearms, Ammunition or Explosives” Stage © 28, Viton Present! Dees No 112 ter kag NS Fencing Law ey 29, Visa of Section 6 0f Republic Act No. 882 other Migan Workers and Overeas Filipinos Act ur op 6 ny, Republic Act No, 10022 2 : 30, Vian of Republic Act No. 8253, otherwise Known sh Froperty Code ofthe Philipines ty 31. Velen of Secon # of Republic Act No. 995, ther [Anti Photo and Video Voyeurisn Ato 219 £2. Violation of Section of Republic Act NO. 9775, cherie Ant-Child Fomography Act of 2009 Foo ag, 58, Veloions of Sete 5,789, 16) nd (0.11, 124d 4 ‘het No. 750 cterwise known a8 the Special Praecon Me ‘Agtnst Abuse, Exploitation and Discrimination Cy 24, Fraudulent paces an othe violations under Republic Aa ctherwise krown a the Secuites Regulation Cade of mo 235, Vilation of Sec 1a of RA No, 10897 (Steg Trad ‘ct To engage inanyacivily prohibited hy Fin contenge any-ozdrs or regulations sued bythe NSCSTMCom aes the provisions ofthis Al sented by RA Ne 1152 cee m2020 omg un — on ee he ak et Tea he IRC cag , piqnatees haan al es malin gg oan (ee fg nya ons he i ct Nn a wt in nse 3 dares and alates supe erties administering or ottutes, and other similar mone ped andlor regulated by the Se sapere companies Insurance agen, Inna rok pote » fs ston her, hg ae A oe sani and all olhet persons and entities supergene COMPRA ve Peed oder epson sos esucance Comission ort ee dealers, rokers, sales gous en, astciated + fs eset ines investment pe ses an other entes manoging seu series J funds or open-end investment companies oi sole Panes or issuers and other dealers in precious metalystones, hoa, a busines, eae in Jeo mtalltones, fr ansacton neers ei 4, land Registration Authority andall ofits Register of Deeds on all el 7 te transaction With rice exceeding Ppp change corporations, money cha | fein 0 changers, money payment ance and raster companies and others ee ilar entities 4. Gains inching internet and ship-bsed casinos with epec fo thee Eso cash transactions related to thir gaming operations es sacra IRA No. 10927) sore et ia Gampany service providers to 3d pate including CPAs and Lawyers 2 ating as formation agent of juridical persons etsons of brokers or and consultants, rain iis or rendering simile snga or ararging fr ance BON to agg ipa secretary of cOmpaTY: 8 arer ofp 8 ee or administrative address foy ree a a anmpement of bank, savings OF SECUFBES Account, nent wan b eu, se NOT covered: Layer and accountant ate NOT Te dorvers tating 36 independent egal profesional sro Acar cn ore ecg th vr omprons cent oder othe atomey gy a 2. Ceri pubic acountan's if ang 2s independent leggy rao to invomaton concerning their cents or whee ‘tn wold ompomie cet nena gc eg relationship. ey She Company A sel company isan incorporated company hy ro significant assets and does not perform any significant gpee es Dunder mney the shall company purport o periorm noe troll setsmublyreqite is costomets to fen pay wy write transactions increase he anonymity of customers and therfon aot CA overmen’s by fo teace he al repent of the diy eee eae ae ‘ornpanies. The launderer then deposits the money with he shapes Src depos tino account. The shell company thes rocetnd cope sr oh ch an ee apperane of propriety and ean money. The shel company can of COVERED INstITUTO Cove nl insti shal nab get ny fiscal onic cee nd HE 1 pete tae Contact.» Covered persons shall condut ee the commencement of the eatonshi oe eae intent me any ean ame Name of beneficial owner, if applicable; 5 Name of beneficiary (in case of insurance contrat or remit transactions) a on © Fermanent addresses; vi Contact number or information; “4 gala rea rr (NS ie customer, ployer or nature of set l Security System (S55) urance System (GSIS) i sd ene under Fictitious ‘Covered persons shall maintain cust Pestions Nemes - tomes! account only in the true el a transaction reports involving non checking numbered sot Seiten cae inbedrecords ofall transactions of sect ei . 2 Ra rm mrsachons a 1 Sie me petaataiman Rarer Tasacton = Ove HAO hy J eovered warsactions Cm a a here! neste AMLC prere«gtay ng day. Coniconat the uniaye Ps Feeding 3 working da a Seay before a reports made. yee . SACO. ion in ash of other eqalent mo ans = dvotng ta amount in excess oF P0000 wining, one involving. any, io cash transaction For casinos a single cas i excess of Fe ety eT ey hp, Jopsolbroker a single Fer en, For al rine FZSEODD cao Speco. remedy RANo- 152 ce at ay ey suspicious Transactions - covered Persons t> prom Sa man og Secenehreo which fo Purpones of he ale SFesablshent of apicion or determination of eee Satie of he tans as amended by Se 9275 Sar 2.20f2018 RR. which gical provided: 5 workings cccurence as well, “Occurrence” meaning the time te 2 tatty has determined thatthe transaction is suspidou Should not exceed 10 days from the date ofthe tansetay "8 ‘Suseicious TRANSACTION ‘A transaction with covered instttlons, regardles of ty involved, where any ofthe following circumstances exist" WY gould at shal be reported 382 suspicious ceasing Sul wt bce {hee ia, sal be oa 1 oe indrecy In ay manner oF by any Fa oregano st gor wi ee io at 4. TRS ic justification went 8 not propery identified i. ee Stmount involved isnot co ig. TRE Maal capacity ofthe client va niece a Sota ee ee onan 1 son cord en nt He ps fe — vi Toe Me under this Act that is about te activity oF ote woe tnag rhs co tat der git APY ‘OF analogous to any of foregoing ofthe .ransstion be determin tbe both covered anda up tronssction. olation of bank secrecy d from communicating, ‘means any person the Port was made, the content ATION ‘vendor deposited P300,000 in alt a single banking day. What A ba ilbe prepared by the Bank, if any? 1 day. Wha case the transaction isnot a eR: In tis case snota “covered transaction” smut does not exceed P5000. It may, ss since the transaction isnot commensurst the Bank then will pre however, qualify as let the business ofthe 6a suspicious transaction report (no what reports) willbe prepared by the Bank, if any?ea BETTI, ER rm SS ~ nets both a covered and SsPIGOUS AMER thy " ious transaction por ey tis composed of: 1. Charman: BSP Governor 2. Members Commi ‘Chairman of SEC ssione of Insurance Comission Functions of AMLC: " . a ‘ees and aber woation fis A iced gM eee sey 312000) mei oem rete creed EANEEN Tp fg 4. ie ander addressed to the apPrOPHAE Supervising To sutton to deen the ut ey the oe pee fave arson ge i fomatorign sate oF vedby the Cour ce oa norte dec rey et re pcdst mnie PMng Frocerdings Brough OSG ean ing of complains wih the DO) of Onby 6: e'Eitne evengatone of covered tanscons, a ees be vations of RA 910 2 ny by wi ty 4. Tohticousuch enue 0 ay Benen Shute nay De i Msiantal evidence to be in whole OF I art, whe sy ‘4 To instute Gil foreture proceedings and all other 4, resection of money laundering offenses sma rg, 1. Tofreeze any monetay instrument or property alleged tobe 9160 to counteract money laundering r P it own ant wet noarom a nee FAME, gavestosl poems on he mace maha nd chin 1 Tyg ypreverting money mun pe mena puTishig offenders orders and resolutions sued pesuanracige, OTHE +t of its investigatic AD 1c aug it of. Mion. the AMLC shall apply for the a ssach.and seizure over with any competes it: gi RA No 1521. oc lomary 31,291 a resent ei tion. the AMLC shall apply for the et a petent oan (since isha NEN SME 8 ey Ra Ne TS, ted finan Pe ca a as detucn an eiaon ee ts foe sath han-conclled, directly or indice, iacading ant sed se ne en Nene se Es Ne TD ts een Conn at a * epee Pane st ince saan cot The amount to be tamed over lo the malin oe te pe ae ot 6 *sing of Monet Frecing of Mone AMLC and after determination they application ex Pe iment oF property is in any st PPO Es tha any monetary instrument F UPSD nny ay Oy aye 4 ett alt wich sp MSN awl activity “ days unless ext immediately (= pr of 20 days ended by yo ies, cation) appiation Py Ny eh diverse web of rel onsiering te ite lated dering go the monetary sAStTUMENS oF pron My, ce difere oee states, har OS Peso ey AMC may apply freeze Moneta) isumeny ay ce names ofthe reported ownersiRole, and Monetary a erred ne open fe ALG ng . ‘web of accounts me Affe a Acounts are those scours, the funds ant ee ef es ml ed tthe mong repeat of he freeze ore “rags “AMENDMENTS UNDER RA No. 1152 (fective January 3, anne tne (2) ay pein the Cou of Appeat un) se ng wot te pres drm ly Mary oi the eer order, or extend seffecivty. 2 Teta period ofthe feeze order sued by the Cour of Ap ths provision shall nat exced sx (61 months Pig, 4, This without prejudice tan asl preservalion order that iy Teal Cou having Jurisdiction over the appropri ath Ions eo a re S84) SS ote depending onthe crcamstances ofthe cae, where the Courtog¢o8t ellvemand the case and its records. XA 4 here sno case filed against person whose account hag a pe ped determined bythe COUT of Appeals notes {Cymonths the eee order shall be deemed ipso fac titeg 45 Then rl stall nt apply to pending ase inthe cours the court should act onthe petition to freze within twenty furap ftom fling ofthe petition, Ifthe application is fed a day tp ervey ay te computation a the tHe our hag Shall exe the nonworking day. te, Y peut Instrument oF Property The Cour og. on Pe eger oF a8et Preservation oder eee Srty to the AMOUNE Of cash op gach UPAEF this Act shall A tonetary instrument or value ei rt finds there ge ae ae enw drt APY £0 AOU in the er Sal jae ofthe proceeds of the predicate cage 1 eS OF the SO ge acount hasbeen fropen sn pee nal order, dese ioe ages attain ce er implementing pe apne of mas detractors aE neato ie arn dis fnaning the AMLC to fee without delay se det shall be effective uni the hs “ suanse shal ft ed, Dring thee fe rng the eectivity ofthe fees ps0 tonto determine the bass ofthe ee ore ne Fert ale of fete sil proton s Tron whos Proper of fads hve Ben fen may withdraw eae tenance incleaing es anably needed for monthly wg gets and sustenance ing the servis of cunel nd the fa ers pron, LC, Mf CUMSLANCE Warrant, may initte el fo mE sopra heats peet ienae shall ise a temporary restrsning order ora wtf injunction Neco t preservation ord BNO an asset mn order as per Sec. 12d), as amended) or oe ceeze order (ferred to in and (Gast he freeze order ‘nd 12), except the Court of atsorihe Supreme Court to inquire into bank deposits: The AML or 10 en LC may inquire into Yipon order nf the court when there is probable Cause that the i ee Tsao eet according yurt order is not et, 2 0 necessary when the offense or unlawt ty inves ary’ ofthe following: a ‘mapping for ransom under Arce 267 of Act No, 3815, otherwise Jpown s the Revised Penal Code, as amended;“th 8,9, 10, 11, 12, 13, 14, 15 and 16 of Republi ” Sections 4, 5, 6 8 ‘i the Comprehensive Dangerous Drgg thy otherwise ae violations under Republic Act No, 65 Ay %y : = 2 an and murder, as defined under the Revise Destructive as amended; Felonies or offenses (1), (2) and (12) of the of other countries; : Terrorism and ae oe blic Act No. % ; Sue ner terrorism under Section 4 and offenses punj, ee 6, 7 and 8 of Republic Act No. 10168, otherwise ae Prevention and Suppression Act of 2012 sy e a ofa nature similar to those mentioned ; a AMLA which are punishable un, der the x it terrorism as defineg an 4 habla Inquiry into deposits may be availed of even in the absence of a a criminal case under the same law. However, the order Authoring inquiry cannot be issued ex parte. Asset Forfeiture: 1. Civil Forfeiture. - Upon determination that probable cause exists thy monetary instrument or property is in any way related to an activity or a money laundering offense, the AMLC shall file regional trial court, through the Office of the Solicitor General, petition for civil forfeiture. No Prior Criminal Charge, Pendency of or Conviction Necessary, .\, prior criminal charge, pendency of or conviction for an unlawful acy or money laundering offense is necessary for the commencement orf resolution of a petition for civil forfeiture. Asset Forfeiture in Money Laundering Cases. - Where there is conviti for money laundering, the court shall issue a judgment of forfeitur favor of the Government of the Philippines with respect to the mone instrument or property found to be Proceeds of an unlawful activity. tay Unley With a ‘Vette