amla (ra 9160/10927)

• stages: placement, layering, integration
• ULA

  • kidnap for ransom
  • bribery - public official only
  • piracy - pirata talaga
  • robbery - intimidation & destruction
  • fencing - gain form robbery
• ULA

  • kidnap for ransom
  • bribery - public official only
  • piracy - pirata talaga
  • robbery - intimidation & destruction
  • fencing - gain form robbery
  • violation of strategic tax mgt
  • tax evasion - 25M
• covered persons

  1. regulated by bsp
  2. dealers of secu
  3. mutual funds and forex
  4. jewelry dealers, casino, real estate dealers
  5. pogos
  6. company service provider
  7. person providing serving
• covered transactions: w/in 5 working days not exceeding 15 days

  • > 500k = bank/cash trans
  • > 1M = jewelry dealers
  • > 5M = casino
  • > 7.5M = real estate dealers
• suspicious transactions: next working day from occurrence
• 7 circumstances of sus trans

  1. no legal/economic justification
  2. client not identified
  3. disproportionate from fin. capacity
  4. avoid reporting
  5. deviate from profile
  6. money related to ULA
  7. any similar to aforementioned
• reported as suspicious transaction if both covered and suspicious
• BSP Governor = Chairman of AMLC

  Members: Insurance COmmissioner, SEC Chairperson
• function of amlc - admin, quasi-judicial, investigative
• jurisdiction of amlc

  • rtc - all money laundering cases
  • sandiganbayan - public officers w/ conspiracy
• prosecution - independent, separate and distinct, konwledge
• freeze order - by CA upon probable caue
• freeze order

  • AMLC
  • Effective 20 days
  • petition w/in 24 hrs
• bank inquiry

  • 2ith court order - with probable cause
  • w/out - in cases of: kidnap, drugs, arson/murder/hijack
  • terrorism