Laws and Amendments of AMLA

Purpose:
1. It aims to preserve the confidentiality of bank accounts, the
accounts will still be confidential, however only legit accounts will be
protected by the government not those accounts which blooms from
certain unlawful acts.
2. The government aims to prevent the Philippines from becoming a
money laundering site.
3. We obliged ourselves to cooperate in transnational investigation
and prosecution. If money laundering involves different countries, it
very hard to arrest the perpetrator. Hence, certain countries
decided to collaborate to stop money laundering.

What is Money Laundering?

- Money Laundering is a crime by with proceeds of UA and are
transacted and making them appear to have come from legit
sources.
- Predicate Crimes need not be proven beyond reasonable doubt in
order to be liable to money laundering because money laundering
and other crimes are a separate crime and the same goes to the
dismissal.

Stages of Money Laundering

- Placement
- Layering
- Integration

Again, money laundering is so difficult to detect if it is already in the

layering stage or integration. That is why this law is designed to detect
money laundering in the very early stages.
Preventive Measures
- Costumer Identification: Costumer Due Diligence – it does not only
investigate the identity itself, this also investigates the pattern of his
economic background.
- Record Keeping: must keep documents and transaction however it
will be disposed in 5 years
 - Physical Surveillance: a technique to gain general background and
intelligence information on individual’s business, habits as well as
relationship of the suspects.
Trash Runs: This technique can be effective way of obtaining leads
where assets ae maintained, as well as help develop probable cause
for more coerceive measures and evidence for use at trial.
- Transaction Reporting

Relevance of the Topic to the Subject

Leadership-
Decision Making-
Management-