RA 3019 --- ANTI-GRAFT AND CORRUPT PRACTICES ACT The bulk of the violation here is found in Section 3, where

you have so many enumerations of acts covered by this law. Given in past bar examinations by way of problems are situations covered by Subsections A,B,D, in so far as the 1 year period stated there is concerned. Subsection E Section most widely practices of public officers. In – the 3. Corrupt invoked provision of this law. Subsectionto acts or omissions Iof public officers already addition G and Subsection
penalized by existing law, the following shall constitute corrupt practices of any public officer and are hereby declared to be unlawful:

In subsection I, you must be careful; the only way the PO involved may avoid incurring a violation of the AntiGraft & Corrupt Practices act is for him to divest himself of any interest in the enterprise applying before the board, panel, or group where the public officer is involved, OR resigned his membership in that board, panel, or group. Subsection I expressly provides that even though the PO possessing conflicting interest in the applicant enterprise voted against the application, still the law is violated. But that provision of Subsection I covers only such application requiring the exercise of discretion on the part of the board, panel, or group in which the PO is a member. So if the application would require only ministerial act on the part of that board, panel, or group, this subsection I of Sec 3 of the law does not govern. The most widely violated provision is that of Subsection E – causing undue injury to another, private or public, by giving unwarranted benefit though manifest partiality, evident bad faith, gross inexcusable negligence. About this injury, it is already ruled by the SC that the injury contemplated here must be quantifiable in money. It has reference to material injury, not to any damages which are subject of speculation. So the complainant here cannot invoke its violation, only because he suffers moral damages or because he suffered some temperate or moderate damages. The damages here must be one that is quantifiable in money. Secondly here, one of the predicate of the complaint under this subsection of the law is that of evident bad faith. The injury caused was brought about by evident bad faith on the part of the public officer accused of the violation. Although violations of this law are mala prohibita and in crimes mala prohibita, good faith or lack of criminal intent is not a defense, and therefore irrelevant or immaterial, yet in this violation of the law where the complaint is based on alleged evident bad faith, the accused as an exception, should be allowed to adduce evidence of good faith or lack of criminal intent in causing the damage. SC SAID that if would not be allowed, the accused would be denied the chance to defend himself because the only way to controvert the alleged evident bad faith is to adduce evidence of good faith and of lack of criminal intent. {You take note of this exception. You must have planted in your minds now that in bar exams, most of the problems given refer to situation to exceptions to the rule.} In that subsection (i) where the member of the board, panel, or group voted against the application that has conflicting interest with the applicant enterprise, this
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(a) Persuading, inducing or influencing another public officer to perform an act constituting a violation of rules and regulations duly promulgated by competent authority or an offense in connection with the official duties of the latter, or allowing himself to be persuaded, induced, or influenced to commit such violation or offense. (b) Directly or indirectly requesting or receiving any gift, present, share, percentage, or benefit, for himself or for any other person, in connection with any contract or transaction between the Government and any other part, wherein the public officer in his official capacity has to intervene under the law. (d) Accepting or having any member of his family accept employment in a private enterprise which has pending official business with him during the pendency thereof or within one year after its termination. (e) Causing any undue injury to any party, including the Government, or giving any private party any unwarranted benefits, advantage or preference in the discharge of his official administrative or judicial functions through manifest partiality, evident bad faith or gross inexcusable negligence. This provision shall apply to officers and employees of offices or government corporations charged with the grant of licenses or permits or other concessions. (g) Entering, on behalf of the Government, into any contract or transaction manifestly and grossly disadvantageous to the same, whether or not the public officer profited or will profit thereby. (i) Directly or indirectly becoming interested, for personal gain, or having a material interest in any transaction or act requiring the approval of a board, panel or group of which he is a member, and which exercises discretion in such approval, even if he votes against the same or does not participate in the action of the board, committee, panel or group. Interest for personal gain shall be presumed against those public officers responsible for the approval of manifestly unlawful, inequitable, or irregular transaction or acts by the board, panel or group to which they belong. The person giving the gift, present, share, percentage or benefit referred to in subparagraphs (b) and (c); or offering or giving to the public officer the employment mentioned in subparagraph (d); or urging the divulging or untimely release of the confidential information referred to in subparagraph (k) of this section shall, together with the offending public officer, be punished under Section nine of this Act and shall be permanently or temporarily disqualified in the discretion of the Court, from transacting business in any form with the Government.

criminal liability attaches. the law is not interested in the effects of the law on the prohibited act. because actually the procured materials where the violation of the law was incurred has already [resulted]. he conducted an offer. In view of this provision.That any public officer charged for having violated this law shall be suspended from public office upon a finding of the court of a valid information filed against him. If voluntarily done. In a case where the bank account of the public officer under investigation or being examined. The law is interested only in whether the act was voluntarily done or not.” so the public officer being examined for any ill-gotten wealth cannot invoke the Law on Secrecy on Bank Deposit to prevent an examination of his bank accounts. the law is not interested in the effect of the prohibited act. Since the purpose here is to discover the ill-gotten wealth. or dummies. filed with the SB a criminal case for violation of RA 3019. 1405). but simply from the fact that the prohibited act was VOLUNTARILY committed. Before this. Under Sec 8 of this law (RA3019). nominees. So what they do is just to approve this ministerially. It is enough that the act is prohibited and that the public officer voluntarily performed the act. The transaction has already been consummated or is implemented. then criminal liability attaches. panel. and he will only get whatever the amount he had advanced. Nobody was interested to rent because they have to renovate the place. So they can only be held administratively and civilly liable but not criminally. that means w/out duress only. The municipality after all was bankrupt. So he will advance the {amount} will operate the place. Violation of this law now prescribes in 15 years. Any profit earned out of the operation therefore will inure to the municipality. He announced that he is only willing to do this because his father is the mayor and he wanted the father to be able to attend to the basic services needed by the constituent of the municipality. This is an exception to those already provided in the law itself. {be careful about this!} *Violations of the Anti-graft and corrupt practices act are mala prohibita. those of his children below 18 years of age. The fact that the government benefited out of the prohibited transaction is no defense at all. nothing to pay the salary of the employees of the municipal government. jurisprudence is to the Page 2 . This is the period you will apply before the amendment in 1982 extending the prescription to 15 years. That being so. In fact. SC affirmed the conviction.was given in the bar several times. SB convicted him. So the high court said: “Aside from the exception to the law on secrecy of bank deposit. based on the fact that he contracted with his son involving the property of the municipality. It was found to be the most advantageous because the son of the mayor would convert the place into a canteen and a convenience store without any centavo coming from the municipality. as long as the act is prohibited under this law. his bank accounts where this funds or his nominee or his dummy may be examined. or group was merely ministerial because the transaction has already been consummated. The only way to escape liabilities is to resign or divest himself of the interest in the applicant enterprise. the other parties who wanted the same concession challenged the legality of the contract before the local RTC. So his son made an offer to the municipal council which conducted the hearing that because there is no interested bidder. in the investigation of the public officer charged for having accumulated illgotten wealth. this should authorize under the AntiGraft & Corrupt Practices Act should be considered only as exception to this prohibition under the law. the provision of the law would be useless if after all the bank deposit of the public officer involved cannot be examined. it was shown that the act taken by the board. the prescriptive period for the violation is only 10 years. An issue was brought before the SC. SC categorically pronounced: “In crimes mala prohibita. SC ruled ‘the examination may proceed. So except in that particular situation in subsection (e) of Section 3. In a case involving the officers of the Cebu International Airport for violation of this provision. So where a municipal mayor who was elected into office found the coffers of the local government empty. But the provision must apply first. but this will only refer to violation committed after the amendment was made in 1982. He rented out a part of the municipal building. The high court said: “In crimes MP. Another important aspect under Section 13 of this law --. So SC said this provision is not violated because the act done by this board is already ministerial. evidence of good faith or lack of criminal intent is not a defense. So he instead raised the axed against the mayor. it is therefore a malum prohibitum if is from the voluntarily doing of the act which will violate the law. and that provision will apply only if the application involved the exercise of discretion. Those of his wife. He appealed to the SC.A. So you should know the important point there that the act was done to benefit the government. no money to pay the basic services. the Bank refused access to the records invoking the Law on Secrecy of Bank Deposits (R. The local RTC dismissed the complaint. those who were assignees. that will be controlling.

even though the violation of the Anti-Graft & Corrupt Practices Act was not committed in that office. that is the end of the order. The head of the coordinating department of the government must Page 3 . That means there should be a hearing. The suspension was challenged because it is being applied to an office held by the accused as Vice Governor whereas the alleged violation of this law was committed in the Office of the Provincial Board while he was a member thereof. SC ruled whatever public office is there at the time the order of suspension was issued. the sheriff of the SB will serve the order of suspension to the Speaker of the House or the Senate President for him to set the mechanism of the legislative body on the manner of suspending members thereof. not the sheriff of the SB. conform to the order of suspension. may issue the Order of suspension. so he held office for Vice Governor. The Court which is now exclusively the SB for violation of this law must first determine the merit of the accusation against the public officer charged for violation of this law. upon the filing of the information the court will issue the order of suspension applying that will issue a warrant of arrest. SB has jurisdiction to order the suspension. The SB was acting within its jurisdiction in ordering the suspension even by those occupying the coordinate department of the government. even though that public office is not the office where the violation was committed. the so-called ‘pre-suspension hearing’ that you must have learned in your study of administrative law. the order of suspension will apply to that public position. This is so even when a member of the legislative is the one involved. It is already a decided situation. Public officer accused of the violation must be given notice to explain why he should not be suspended from public officer pending the investigation of the criminal case against him pursuant to Section 13 of this law. So as long as the accused holds a public office. Only after the court has determined that there is a meritorious information filed for violation of this law may the court. that is not so because of that provision requiring the court to give details of information filed.effect that the suspension is mandatory but not automatic. which is now the SB. but the same cannot just be implemented. So if the accused is a member of the House of Representative or the Senate. If they do not want to suspend. the accused must be suspended therefrom. Where a public officer committed a violation of this law when he was a member of the Provincial Board. It shall cover whatever public office is held by the accused at the time the order was issued. SB issued the order of suspension. actually they are the ones who will implement the order of suspension. have instead he ran for Vice Governor and he won. The suspension is mandatory but it is not automatic – meaning to say. The Order of suspension shall be for 90 days. SB would be acting within its jurisdiction. The SB cannot routinarily issue an order of suspension. In the meantime the case against him for violation of this law was filed with the SB. So he claimed he cannot be suspended from the public office of the Vice Governor. must be conducted and thereupon. SB after the hearing.

it being sufficient to establish beyond reasonable doubt a pattern of overt or criminal acts indicative of the overall unlawful scheme or conspiracy. Penalties. to wit: Sec. subordinates or other persons.00). the series of acts maybe under the same enumeration. any commission. 2 at least is required.000. we shall now examine the intricacies of the Plunder Law. Through misappropriation. By taking undue advantage of official position. It states that for purposes of establishing the crime of plunder. industrial or commercial monopolies or other combinations and/or implementation of decrees and orders intended to benefit particular persons or special interests. conversion. the plunder law was passed in 1991 with the most significant signatory being one Senator Joseph Estrada. 5. The second requisite: The amount must be incurred by at least 2 acts covered by different paragraphs under Section 1(d) of the law. that cannot give rise to the crime of plunder. amasses. By the illegal or fraudulent conveyance or disposition of assets belonging to the National government or any of its subdivisions. connection or influence to unjustly enrich himself or themselves at the expense and to the damage and prejudice of the Filipino people and the Republic of the Philippines. percentage. So since the law used the word ‘combination’.000. or. At least 2 of the said paragraphs must be violated. In this edition of the Law Professor. There must be another commission of subsection d Section 1 . it shall not be necessary to prove each and every criminal act done by the accused in furtherance of the scheme or conspiracy to amass. What is plunder and how is it committed? According to Section 2 of RA 7080. 7080 (An Act Defining and Penalizing the Crime of Plunder) is hereby amended to read as follows: “Sec. 2.00) with the corresponding penalty of life Imprisonment with perpetual absolute disqualification from holding any public office. In the imposition of penalties. the offender was liable only if the aggregate amount amassed is at least Seventy-five million pesos (P75. 12. the degree of participation and the attendance of mitigating and extenuating circumstances.” Section 4 of RA 7080 also prescribes the method for proving that the crime of plunder was committed. that is already obtaining or accumulating ill gotten wealth. relatives by affinity or consanguinity. share. 4. business associates. amasses. any person who participated with the said public officer in the commission of plunder shall likewise be punished.00) shall be guilty of the crime of plunder and shall be punished by reclusion perpetua to death. subordinates or other persons. business associates. So if the P50 million was accumulated by one act of receiving kickback. The court shall declare any and all ill-gotten wealth and their interests and other incomes and assets including the properties and shares of stocks derived from the deposit or investment thereof forfeited in favor of the State. The criminal acts described in Section 1 (d) are as follows: 1. – Any public officer who. the accused public officer must have amassed ill-gotten wealth of not less than 50 million pesos. authority. shall be considered by the court. 7080 – ANTI PLUNDER LAW The most discussed law these days is Republic Act 7080 otherwise known as the law on plunder. misuse. By receiving. by himself or in connivance with members of his family. If the public officer therefore after having amassed 49 million and so many hundreds already stop. gift. this crime cannot be incurred. Section 2 of Republic Act No. or malversation of public funds or raids on the public treasury. receiving or accepting directly or indirectly any shares of stock.the second one. But if the ill-gotten wealth was accumulated through a series of acts. Definition of the Crime of Plunder. By obtaining. directly or indirectly. If Page 4 . 6. accumulate or acquire ill-gotten wealth.A. In the original version of RA 7080. agencies or instrumentalities or government-owned or controlled corporations and their subsidiaries. equity or any other form of interest or participation including the promise of future employment in any business enterprise or undertaking. In addition. as provided by the Revised Penal Code. Any person who participated with the said public officer in the commission of an offense contributing to the crime of plunder shall likewise be punished for such offense. For the crime of plunder to be committed. relatives by affinity or consanguinity.000. relationship. 3. and lowered the amount to Fifty million pesos and increased the imposable penalty to death.000. 2. plunder is committed when a public officer who. By establishing agricultural. This was the interpretation made by the SC because the law provides for a combination or series of overt or criminal acts.R. kickbacks or any/or entity in connection with any government contract or project or by reason of the office or position of the public officer concerned. However.000.000. Seen as a deterrent to prevent public officials from stealing money from the government. RA 7659 (The Death Penalty Law) amended Section 2 of RA 7080. by himself or in connivance with members of his family. accumulates or acquires illgotten wealth through a combination or series of overt criminal acts as described in Section 1 (d) hereof in the aggregate amount or total value of at least Fifty million pesos (P50. accumulates or acquires illgotten wealth through a combination or series of overt or criminal acts as described in Section 1 (d) of RA 7080 in the aggregate amount or total value of at least Fifty million pesos (P50.

it must be fall under different paragraphs or enumeration in that subsection d. That means the criminal intent must be established in accumulating the illgotten wealth of at least 50 million pesos for it to be punished. Another important aspect of this crime: The violation is held to be a malum in se. So if the same act was committed twice.there are only 2.Important word ‘COMBINATION’. Page 5 . that cannot bring about the crime of plunder .

9160 – ANTI MONEY LAUNDERING ACT OF 2001 R. 2. Examination of the account is allowed only by way of exception in four (4) cases: a) upon written permission of the depositor. The key to a proper appreciation of the law is in its definition of terms. particularly: a) “Covered Institutions” b) Covered Transactions and c) Unlawful Activity.A. “Unlawful Activity” refers to any act or omission involving the following crimes/offenses: 1. 3.A. said monetary instrument or property. and for Other Purposes”) promulgated on April 4. these laws originally promulgated with a noble purpose were taken advantage of to conceal illegal banking activities such that the Philippines was cited as among the money laundering centers of Asia. involves. b) in cases of impeachment. who at the time of the transaction was a properly identified client and the amount is commensurate with the business or financial capacity of the client or those with an underlying legal or trade obligation. all deposits of whatever natures which are deposited with banks or banking institutions are considered as of an absolutely confidential nature.Fraudulent practices and other violations of Securities Regulation Code of 2000. Expressly excluded are transactions involving a person.Hijacking and other violations under Republic Act No. perform any act as a result of which he facilitates the offense of money laundering referred to in paragraph (a) above. 12. 4. Specifically it is committed by: a. or relates to the proceeds of any unlawful activity. 1405 (“An Act Prohibiting Disclosure of or Inquiry into Deposits with any Banking Institution and Providing Penalty Therefor”) was promulgated forty-six years ago to encourage people to deposit their money in banking institutions and to discourage private hoarding so that these private funds may be properly utilized to assist in the economic development of the country. c) upon order of a competent court in cases of bribery or dereliction of duty of public officials. 6426 (“An Act Instituting Foreign Currency Deposit System in the Philippines. and 14. Other significant provisions: a. Any person knowing that any monetary instrument or property is required under this Act to be disclosed and filed with the Anti Monetary Laundering Council (AMLC).Smuggling. Specified provisions of the Anti-Graft and Corrupt Practices Act. b. series or combination of transactions involving a total amount in excess of P4M or its equivalent in foreign currency. the crime of money laundering is defined as one whereby the proceeds of an unlawful activity are transacted and made to appear as having originated from a legitimate source. With the passage of time and the phenomenon referred to as “globalization”. The formation of an Anti-Money Laundering Council composed of the Governor of the BSP. Accordingly. acts perpetrated by terrorists. 7. commodities or financial derivatives supervised or regulated by the Securities & Exchange Commission. Robbery and Extortion 6. Plunder 5. 9. 9160: “The Anti-Money Laundering Act of 2001” was promulgated primarily to allow the examination of bank accounts suspected to be sourced from illegal activities but which otherwise are protected from examination or freezing under existing laws on secrecy of bank deposits. the Page 6 . Swindling 10.Felonies or offenses of a similar nature that is punishable under the penal laws of other countries. 13. Similarly. R. transacts or attempts to transact. c. Specified provisions of the Dangerous Drugs Act of 1972.A. Any person knowing that any monetary instrument or property involves the proceeds of any unlawful activity. Piracy on the high seas. The term “covered institutions” embraces any institution supervised or regulated by either the Banko Sentral ng Pilipinas (BSP) or the Insurance Commission and any institution or entity dealing in currency. Hence international pressure was imposed to goad our government into passing an anti-money laundering law. Qualified theft.R. or d) in cases where the money deposited is the subject matter of the litigation. 8792). b. Kidnapping for ransom. fails to do so. Any person knowing that any monetary instrument or property represented. 9160 and the crime embraced with the definition of “unlawful activity”. Under said law.Violations of the Electronic Commerce Act of 2000 (R. Any person may be simultaneously charged with and convicted of both a violation of R.A.A. Jueteng and Masiao. R.A. “Covered Transaction” is a single. 11. 1972 extended the veil of absolute confidentiality and immunity from examination to foreign currency deposits with authorized Philippines banks and banking institutions. 8. 6235 destructive arson and murder.

dealers. e. however crude. money payment. d. salesmen. while the AMLC has powers to freeze a suspected account. c.Commissioner of the Insurance Commission of the Chairman of the SEC.) The crime of money laundering itself Failure to keep records Failure to report covered transactions Malicious reporting Breach of confidentiality Page 7 . 9160) is a significant development.000 for failure to disclose a money laundering activity.000. investment houses an other similar entities managing securities or rendering services as investment agents.) 5.) 3. crime of transacting or money laundering activity and a fine of not less that double the value of the Money Laundering: It is a crime where the proceeds of an illegal activity are transacted. Notably. it cannot examine same without a prior court order. But at least some procedure. money changers. They refer to: 1. The penalty for the attempting to transact a ranges from 7 to 14 years P3M but not more than monetary instrument. The AMLC is also authorized to inquire into or examine any particular deposit or investment with a covered institution but upon order of a competent court. The RTC has jurisdiction over money laundering cases except if the money laundering is committed by public officers or private persons conspiring with them. By and large.) 2. the law requires that the AMLC must act unanimously in the discharge of its functions. The AMLC is authorized to. Hence.A. f. involves or is related to the proceeds of any illegal activity but transact/tries to transact the instrument/property anyway 2. remittance and transfer companies and other similar entities. brokers. 9160 cannot be used for political persecution and no case for violation of R.) Insurance companies and all other institutions supervised and regulated by the Insurance Commissioner 3. advisers. close-end investment companies and other similar entities. valuable objects. issue of a freeze order – which shall be effective for at least fifteen (15) days and except for the Court of Appeals and the Supreme Court no court shall issue a TRO or writ of injunction against a freeze order issued by the AMLC. consequently making them appear to have come from legitimate sources. consultants. Covered Institutions These are the institutions covered under the money laundering law. the passage of the law (R. as amended by RA 9194) to be disclosed and filed with the Anti-Money Laundering Council and fails to do so A person can be convicted of both the illegal activity and money laundering. the case will be tried by the Sandiganbayan. 9160 may be filed during an election period. To allay fears of the lawmakers themselves that the law may in the future be used against them (as in the case of the crime of plunder which ERAP is charged with). is given precedence over the prosecution of any offense or violation of the money laundering law without prejudice to freezing and other remedies. R. and entities administering or otherwise dealing in currency. however.A. In this instance. commodities or financial derivatives based thereon. upon determination of probable cause. a safeguard provision was inserted. cash substitutes and other similar monetary instruments or property supervised by the SEC Transactions Covered by RA 9160: 4 – 7 years imprisonment and a fine of at least P1.) 4.) Any person who knows that any monetary instrument or property represents.5M but to exceed P3M for facilitating the offense of money laundering. The law has several defects but what do you expect when the passage of said law was fast-tracked (very like instant noodles) and extensive debates and deliberations on the bill discouraged and avoided just so both houses of congress are able to meet the deadline.) If a person knows that any monetary instrument or property that is required under the money laundering law (RA 9160. has been put in place as will hopefully deter the use of Philippine banks (and other financial/insurance institutions) as laundry centers.) A person who. mutual funds. Any case related to the illegal activity. 6 months – 4 years or a fine of not less than P100.A.) Securities. It takes the form of the following: 1. knowing that any monetary instrument or property involves the proceeds from any illegal activity. non-banks. trust entities and all other institutions and their subsidiaries and affiliates under the regulation and supervision of the Central Bank 2. Hence. quasi-banks.) Banks.00 but not more than P500. Offenses punishable under RA9160 are the following: 1. a vacancy in any of the enumerated offices or absence of any such member will render the AMLC ineffective. performs or fails to perform an act a result of which he facilitates the offense of money laundering in the previous paragraph 3. forex corporations.

if any of the following circumstances are present: a. b. editor-in-chief. If committed by a media company. 5.) Hijacking and other violations of RA 6235 12.00 to Php500.00 to Php500.) Imprisonment from 6 months to 4 years and/or a fine of Php100.00 in a single banking day.) Fraudulent practices and other violations under the Securities Regulations Code 14.) Piracy on the high seas 8. president. including those committed by terrorists against non-combatants and similar targets 13.00 to Php1M for breach of confidentiality. is being or has been committed g. regardless of the amount involved. but not to exceed double the value of the monetary instrument or property involved in the offense for the first form of money laundering (see above.) Imprisonment of 6 months to 1 year and/or a fine of Php100.000. the reporter responsible. 1.) The transaction is related to any illegal activity or offense under the money laundering law and is about to be. Also. RA 6426. the officers responsible will get this penalty and the juridical entity's license will be revoked.) Violations of the E-Commerce Act 11.000. 2.) Any transaction similar or analogous to any of the above Unlawful Activities Under RA 9160 1. If the offender is a corporation or any juridical person.00 to Php500.) Plunder 5.) Felonies/offenses of a similar nature punishable under the criminal laws of other countries Page 8 . If the offender is an alien. publisher and manager will be held liable.) 4.) Client isn't properly identified c.) 3.000.) Swindling/estafa 10. the offender can't avail of the Probation Law.) Imprisonment of 3 to 8 years and a fine of Php 500.) Qualified theft 9. he will be deported after serving sentence.) Covered Transaction A transaction in cash or equivalent monetary instrument where the amount exceeds Php500.) Imprisonment of 6 months to 4 years and a fine of Php100.) Kidnapping for ransom 2. 6. writer.00 for the third form of money laundering (same.) Any circumstance related to the transaction is observed to deviate from the client's profits or his past transactions with the covered institution f.) Amount involved isn't commensurate with the client's business or financial capacity d.) Acts of terrorism 15.) No underlying legal or economic justification trade/obligation.) Destructive arson and murder.) Robbery and extortion 6.00 for malicious reporting.000.00 for failure to keep records. he will also suffer the same if he refuses or purposely fails to testify.000.000.) Jueteng and masiao 7.000. provided the reporter doesn't communicate any information related to the report to any person.) 2.5M to Php3M for the second form of money laundering (same.) Imprisonment from 7 to 14 years and a fine of at least Php3M.) Violations of the Anti-Graft and Corrupt Practices Act 4.) Imprisonment from 4 to 7 years and a fine of between Php1.) Suspicious Transaction A transaction with covered institutions. If the offender is a public official or employee. perpetual or temporary absolute disqualification. Penalties 1.) Client's transaction is structured in order to avoid being subject to the reporting requirements of the money laundering act e. purpose These crimes can be prosecuted together with the violation of RA 9160.000.) Drug trafficking 3.These transactions are reported to the Anti-Money Laundering Council within 5 working days from their occurrence unless the supervising authority prescribes a longer period of up to 10 days. This is an exception to the Bank Secrecy Law. RA 8971 and other similar laws.

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