Anti Money Laundering Act Philippines Amended

An act further strengthening the anti money laundering law amending for the purpose republic act no.

Anti money laundering act philippines amended. This act shall be known as the anti money laundering act of. Republic act 10927 r a. It also amends the freezing of monetary property section of the original amla act. An act further strengthening the anti money laundering law amending for the purpose republic act no.

An act defining the crime of money laundering providing penalties therefor and for other purposes. Be it enacted by the senate and the house of representatives of the philippines in congress assembled. Amlc secretariat executive director mel georgie racela said the philippines needs to pass and implement further amendments to the anti money laundering act amla to avoid inclusion in the gray. Aml in the philippines was established to prevent money laundering.

Anti money laundering council amlc refers to the financial intelligence unit of the republic of the philippines which is the government agency tasked to implement the amla. 9160 as amended by republic act nos. The act was implemented on november 4 th 2017. Be it enacted by the senate and house of representatives of the philippines in congress assembled.

9160 otherwise known as the anti money laundering act of 2001 as amended philippine anti money laundering council website july 25 2016. This act shall be known as the anti money laundering act of 2001 sec. 9194 an act defining the crime of money laundering providing penalties therefor and for other purposes be it enacted by the senate and house of representatives of the philippines in congress assembled. The country created an anti money laundering council amlc to ensure that the anti money laundering act amla is being observed by those within the financial industry.

10927 is an amendment to the anti money laundering act amla of 2001. 10168 also known as the terrorism financing prevention and suppression act of 2012 tfpsa. The anti money laundering council amlc is the agency of the government of the philippines that is tasked to implement the provisions of republic act no. 9160 otherwise known as the anti money laundering act of 2001 as amended.

9194 10167 and 10365. The amendment designates casinos as a covered person and adds more definitions into the original amla. 10927 an act designating casinos as covered persons under republic act no. 9160 otherwise known as the anti money laundering act of 2001 as amended.

Be it enacted by the senate and house of representatives of the philippines in congress assembled.