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(d) A professional reinsurer includes any person, partnership, association or corporation that transacts solely and exclusively reinsurance business in the Philippines, whether domestic, domestically incorporated or a branch of a foreign entity. Obtaining Assistance from Foreign States. Penalties for the Crime of Money Laundering. TF-33, Series OF 2020, Resolution Related to Terrorism Financing, Deadline Extension For DIGICUR COMPLIANCE, Rules of Procedure in Administrative Cases under Republic Act No. 7394 April 13, 1992 . Form of Records. Rule 10.b. Covered institutions shall prepare and maintain documentation, in accordance with the aforementioned client identification requirements, on their customer accounts, relationships and transactions such that any account, relationship or transaction can be so reconstructed as to enable the AMLC, and/or the courts to establish an audit trail for money laundering. Republic Act 8504 the Philippines AIDS Prevention and Control Act of 1998: Implementing Rules and Regulations. Rule 14.c. Covered and Suspicious Transaction Report Forms. Rule 13.g.1. the originator account number where such an account is used to process the transaction; the originator’s address, or national identity number, or customer identification number, or date and place of birth; the beneficiary account number where such an account is used to process the transaction. Rule 15.b.2. Public watercraft may have designated smoking areas. On-going monitoring of customers, accounts and transactions. Purpose.-. 05-11-04-SC) shall govern the proceedings in all petitions for freeze order instituted pursuant to R.A. No. Rule 3.c. Suppletory Application of the Revised Rules of Court. It includes: (i) All material results, profits, effects and any amount realized from any unlawful activity; (ii) All monetary, financial or economic means, devices, documents, papers or things used in or having any relation to any unlawful activity; and. – The AMLC is authorized under Sections 7 (8) and 13 (b) and (d) of the AMLA, as amended, to receive and take action in respect of any request of foreign States for assistance in their own anti-money laundering operations. "The ATC has approved today (Wednesday) the IRR of the ATL crafted by the technical working group led by the DOJ. If the offender is a public official or employee, he shall, in addition to the penalties prescribed herein, suffer perpetual or temporary absolute disqualification from office, as the case may be. – The AMLA, as amended, and these Rules shall not be used for political persecution or harassment or as an instrument to hamper competition in trade and commerce. Rule 3.d. Minimum Considerations for Siting and Designing Sanitary Landfills. Rule 6.a. - Where the court has issued an order of forfeiture in a proceeding instituted pursuant to Section 12 of the AMLA, as amended, any other person claiming an interest therein may apply, by verified petition, for a declaration that the same legitimately belongs to him, and for segregation or exclusion of the monetary instrument or property corresponding thereto. The Court of Appeals shall act on the application to inquire into or examine any deposit or investment with any banking institution or non-bank financial institution within twenty-four (24) hours from filing of the application. Rule 14.a.2. Rule 1.1 These Rules and Regulations shall be known as the Implementing Rules and Regulations (IRR) of Republic Act 10611, “An Act To Strengthen The Food Safety Regulatory System In The Country To Protect Consumer Health And Facilitate Market Access Of Local Foods And Food Products, And For Other Purposes” otherwise known as the “Food Safety Act of 2013”. 2018 IMPLEMENTING RULES AND REGULATIONS OF REPUBLIC ACT NO. Covered transaction reports and suspicious transaction reports shall be submitted in a secured manner to the AMLC in electronic form. Limitations on Requests for Mutual Assistance. “Person” refers to any natural or juridical person. /�1H0c��igi���%Yakre�#7e�n�;�UZX�4�p���2q���l���WeU��}��H��I�l5�nrK�[�ML{04�`�lה�֞���a����b��l;���~>˪��ܥ ����aM�J[. Trustee, Nominee and Agent Accounts. - BSP Authority to check compliance with the AMLA, as amended, and these Rules. Rule 15.b. - A request for mutual assistance from a foreign State must (1) confirm that an investigation or prosecution is being conducted in respect of a money launderer named therein or that he has been convicted of any money laundering offense; (2) state the grounds on which any person is being investigated or prosecuted for money laundering or the details of his conviction; (3) give sufficient particulars as to the identity of said person; (4) give particulars sufficient to identify any covered institution believed to have any information, document, material or object which may be of assistance to the investigation or prosecution; (5) ask from the covered institution concerned any information, document, material or object which may be of assistance to the investigation or prosecution; (6) specify the manner in which and to whom said information, document, material or object obtained pursuant to said request, is to be produced; (7) give all the particulars necessary for the issuance by the court in the requested State of the writs, orders or processes needed by the requesting State; and (8) contain such other information as may assist in the execution of the request. Rule 9.b.3. an application for authority to inquire into or examine any particular deposit or investment, including related accounts, with any banking institution or non-bank financial institution; (5) to institute civil forfeiture proceedings and all other remedial proceedings through the Office of the Solicitor General; (6) to file complaints with the Department of Justice or the Office of the Ombudsman for the prosecution of money laundering offenses and other violations under the AMLA, as amended; (7) to formulate and implement such measures as may be inherent, necessary, implied, incidental and justified under the AMLA, as amended, to counteract money laundering. - The AMLC shall act unanimously in discharging its functions as defined in the AMLA, as amended, and in these Rules. – If any provision of these Rules or the application thereof to any person or circumstance is held to be invalid, the other provisions of these Rules, and the application of such provision or Rule to other persons or circumstances, shall not be affected thereby. Should a transaction be determined to be both a covered and a suspicious transaction, the covered institution shall report the same as a suspicious transaction. Exemption from Bank Secrecy Laws. Definitions. 9160, As Amended (A.M. No. 7459, otherwise known as the Inventors & Invention Incentives Act of the Philippines (2005) Implementing Rules and Regulations of the Optical Media Act of 2003 (Republic Act No. Rule 14.e. Freezing of any monetary instrument or property. Penalties under Section 4 (b) of the AMLA, as amended. 9994, also known as the “expanded senior citizens act of 2010,” an act granting additional benefits and privileges to senior citizens, further amending republic act no. Knowledge of the offender that any monetary instrument or property represents, involves, or relates to the proceeds of an unlawful activity or that any monetary instrument or property is required under the AMLA, as amended, to be disclosed and filed with the AMLC, may be established by direct evidence or inferred from the attendant circumstances. Labor Code of the Philippines Gender and Development Department Order 202-19 Implementing Rules and Regulations of Republic Act No. Rule 11.b.2. Detailed personnel shall continue to receive their salaries, benefits and emoluments from their respective mother units. Neither may such reporting be published or aired in any manner or form by the mass media, electronic mail, or other similar devices. Upon receipt of the freeze order issued by the Court of Appeals and upon verification by the covered institution that the related accounts originated from and/or are materially linked to the monetary instrument or property subject of the freeze order, the covered institution shall freeze these related accounts wherever these may be found. (5) A person whose account has been frozen may file a motion to lift the freeze order and the court must resolve this motion before the expiration of the twenty (20) – day original freeze order. However, in the case of the incapacity, absence or disability of any member to discharge his functions, the officer duly designated or authorized to discharge the functions of the Governor of the BSP, the Chairman of the SEC or the Insurance Commissioner, as the case may be, shall act in his stead in the AMLC. H�TSM��0��W�q\��|Wە��*��C�K��pdE���$�HH�{o��|�4�6�!jh:������{��'���=ǒ��س��hM8��=�QwΚy�r (b) Assess the respondent institution’s anti-money laundering and terrorist financing controls. IMPLEMENTING RULES AND REGULATIONS OF REPUBLIC ACT NO. On 3 October 2019, the Implementing Rules and Regulations of the Philippine HIV and AIDS Policy Act (IRR) became effective. Rule 17.c. - Covered institutions shall maintain accounts only in the true and full name of the account owner or holder. (h) Mutual Benefit Association refers to any society, association or corporation, without capital stock, formed or organized not for profit but mainly for the purpose of paying sick benefits to members, or of furnishing financial support to members while out of employment, or of paying to relatives of deceased members of fixed or any sum of money, irrespective of whether such aim or purpose is carried out by means of fixed dues or assessments collected regularly from the members, or of providing, by the issuance of certificates of insurance, payment of its members of accident or life insurance benefits out of such fixed and regular dues or assessments, but in no case shall include any society, association, or corporation with such mutual benefit features and which shall be carried out purely from voluntary contributions collected not regularly and or no fixed amount from whomsoever may contribute. In addition, the correspondent bank shall: (a) Gather sufficient information about the respondent institution to understand fully the nature of the respondent’s business and to determine from publicly available information the reputation of the institution and the quality of supervision, including whether it has been subject to money laundering or terrorist financing investigation or regulatory action. Implementing Rules and Regulations of Presidential Decree No. 9239) (2005) Rule 3.b.2. Authentication of Documents. Rule 3.g.2. (e) A closed-end investment company includes an investment company other than open-end investment company. We will disseminate copies … A contract of reinsurance is one by which an insurer procures a third person to insure him against loss or liability by reason of such original insurance. (4) Felonies or offenses of a nature similar to those mentioned in Section 3(i) (1), (2) and (12) of the AMLA, as amended, which are punishable under the penal laws of other countries, and terrorism and conspiracy to commit terrorism as defined and penalized under Republic Act No. endstream
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REGULATIONS IMPLEMENTING REPUBLIC ACT NO. RULE 9 Prevention of Money Laundering; Customer Identification Requirements and Record Keeping. - When dealing with customers who are acting as trustee, nominee, agent or in any capacity for and on behalf of another, covered institutions shall verify and record the true and full identity of the persons on whose behalf a transaction is being conducted. Any findings of the BSP which may constitute a violation of any provision of the AMLA, as amended, and these Rules shall be referred to the AMLC for its appropriate action without prejudice to the BSP taking appropriate action against a non-complying covered institution and its responsible personnel. Take reasonable measures to establish the source of wealth and source of funds; and. - It is hereby declared the policy of the State to protect the integrity and confidentiality of bank accounts and to ensure that the Philippines shall not be used as a money laundering site for the proceeds of any unlawful activity. The Anti-Red Tape Authority (ARTA), Civil Service Commission (CSC), and Department of Trade and Industry (DTI) came together on July 17, 2019 to sign and publish the highly anticipated Implementing Rules and Regulations (IRR) of Republic Act 11032, otherwise known as the Ease of Doing Business and Efficient Government Services Law (EODB Law) in Manila, Philippines. 11165 otherwise known as the ”Telecommuting Act” Penalties for Failure to Keep Records - The penalty of imprisonment from six (6) months to one (1) year or a fine of not less than One Hundred Thousand Philippine Pesos (PHP100,000.00) but not more than Five Hundred Thousand Philippine Pesos (PHP500,000.00), or both, shall be imposed on a person convicted under Section 9 (b) of the AMLA, as amended. Pursuant to the provisions of Section 59 of Republic Act No. Rule 9.c.2. Department of Trade and Industry: Department of Budget and Management . - Subject to the rules promulgated for the purpose by the Supervising Authorities, a covered institution may outsource to a counter-party the gathering of the minimum information and/or documents required to be obtained by these Rules provided that the ultimate responsibility for knowing the customer and for keeping the identification documents shall lie with the covered institution. Any revision or update in the AML/CFT Program shall likewise be approved by the Board of Directors or the country/regional head or its equivalent for local branches of foreign banks/entities/companies. 9160, Customer Identification Requirements and Record Keeping. ELECTRONIC COMMERCE ACT . - The AMLC shall meet once a month, or as often as may be necessary at the call of the Chairman. It was not until March 2016 that the NPC was officially formed, and soon after issued draft implementing rules and regulations of the Act. Separability Clause. 9470, otherwise known as the "National Archives of the Philippines Act of 2007 ", the following Implementing Rules and Regulations are hereby promulgated: WHEREAS, Republic Act No. 455 and under Republic Act No. 10625, otherwise known as the philippine statistical act of 2013 pursuant to section 32 of republic act no. Rule 3.a.2. Republic Act 8792, was signed into law last June 14, 2000. 9372. - Where any transaction is conducted by a trustee, nominee, agent or intermediary, either as an individual or through a fiduciary relationship, a corporate vehicle or partnership, on behalf of a trustor, principal, beneficial owner or person on whose behalf a transaction is being conducted, covered institutions shall establish and record the true and full identity and existence of both the (1) trustee, nominee, agent or intermediary and the (2) trustor, principal, beneficial owner or person on whose behalf the transaction is being conducted. IMPLEMENTING RULES AND REGULATIONS OF REPUBLIC ACT NO. IMPLEMENTING RULES AND REGULATIONS OF REPUBLIC ACT 10524 (AN ACT EXPANDING THE POSITIONS RESERVED FOR PERSONS WITH DISABILITY, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. �I"�@h8��+�H��;�[ �y�ΉLEa ˭���C�$�H� ���4�/!��iʊL�Х���*��ܣ�"y��nq�삝P���\-Qi�g��|�`���t�%��aLX)��T(�u��o�z��9�B�3�4n�����'X��e���*c������Q 7432 of 1992 as amended by republic act no. Rule 9.c. - The functions of the AMLC are defined hereunder: (1) to require and receive covered or suspicious transaction reports from covered institutions; (2) to issue orders addressed to the appropriate Supervising Authority or the covered institution to determine the true identity of the owner of any monetary instrument or property subject of a covered or suspicious transaction report, or request for assistance from a foreign State, or believed by the Council, on the basis of substantial evidence, to be, in whole or in part, wherever located, representing, involving, or related to, directly or indirectly, in any manner or by any means, the proceeds of any unlawful activity; (3) to investigate suspicious transactions and covered transactions deemed suspicious after an investigation by the AMLC, money laundering activities and other violations of the AMLA, as amended; (4) to file with the Court of Appeals, ex-parte, through the Office of the Solicitor General: a.) - Money laundering is a crime whereby the proceeds of an unlawful activity as herein defined are transacted, thereby making them appear to have originated from legitimate sources. 14. – All laws, decrees, executive orders, rules and regulations or parts thereof, including the relevant provisions of Republic Act No. 9003 , otherwise known as the "Philippine Ecological Solid Waste Management Act of 2000," and by virtue of Executive Order No. This includes the implementation of the International Health Regulations (IHR) of the - Probable cause includes such facts and circumstances which would lead a reasonably discreet, prudent or cautious man to believe that an unlawful activity and/or a money laundering offense is about to be, is being or has been committed and that the account or any monetary instrument or property sought to be frozen is in any way related to said unlawful activity and/or money laundering offense. Rule 3.b.1. 2711, otherwise known as the Revised Administrative Code of 1917, as amended by Republic Act No. Rule 9.a.15.a. Upon the timely filing of such motion and pending resolution thereof by the Court of Appeals to extend the period, said period shall be deemed suspended and the freeze order shall remain effective. Rule 18.a. The penalties may include fines plus imprisonment. Administrative Sanctions. h�bbd``b`f�@�q?�`1�ML] V
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The following minimum information/documents shall be obtained from individual customers: (f) Nature of work and name of employer or nature of self-employment/business; (h) Tax identification number, Social Security System number or Government Service Insurance System number; (k) Names of beneficiaries in case of insurance contracts and whenever applicable. Rule 9.a.7. – These Rules or any portion thereof may be revised or amended by unanimous vote of the members of the AMLC. It shall likewise apply enhanced due diligence under Rule 9.a.9.a to establish the true and full identity and existence of the beneficiary. Prohibition against Certain Accounts. 9829, OTHERWISE KNOWN AS THE “PRE-NEED CODE OF THE PHILIPPINES” Pursuant to the authority vested in the Insurance Commission under Section 58 of the Pre-Need Code, the following Rules and Regulations are hereby promulgated: RULE I GENERAL PROVISIONS Sec. Every effort shall be made to provide client with an electronic banking solution. The return of the covered institution as required under Rule 10.c.3 shall include the fact of such freezing and an explanation as to the grounds for the identification of the related accounts. 1405, as amended; Republic Act No. Rule 3.f. Enhanced Due Diligence. It includes any insurance policy holder, whether actual or prospective. (2) Any proceeding relating to the unlawful activity shall be given precedence over the prosecution of any offense or violation under the AMLA, as amended, without prejudice to the ex-parte application by the AMLC with the Court of Appeals for a freeze order with respect to the monetary instrument or property involved therein and resort to other remedies provided under the AMLA, as amended, the Rules of Court and other pertinent laws and rules. - A Covered institution shall take reasonable measures to determine whether a customer or beneficial owner is a PEP as defined under Rule 3.b.2 hereof. Section 14. Indicates that any of the circumstances for the filing of a suspicious transaction exists such as but not limited to the following: Transacting without any underlying legal or trade obligation, purpose or economic justification; Transacting an amount that is not commensurate with the business or financial capacity of the customer or deviates from his profile; Structuring of transactions in order to avoid being the subject of covered transaction reporting; or. Rule 13.d. - The AMLC is authorized under Section 7(10) of the AMLA, as amended, to enlist the assistance of the BSP, the SEC or the IC, or any other branch, department, bureau, office, agency or instrumentality of the government, including government-owned and controlled corporations, in undertaking any and all anti-money laundering operations. Rule 7.c. Section 1. Rule 9.a.11. ��6IR��.�}\�����Ba��y�bǍ�/t �Rz�5&h4�x�4�OF#�t~�4�[����Q
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In determining whether or not a felony or offense punishable under the penal laws of other countries is “of a similar nature”, as to constitute an unlawful activity under the AMLA, as amended, the nomenclature of said felony or offense need not be identical to any of the unlawful activities listed under Rule 3.h. Extradition. “Property” includes any thing or item of value, real or personal, tangible or intangible, or any interest therein or any benefit, privilege, claim or right with respect thereto. an account number of the originator and beneficiary, or in its absence, a unique transaction reference number. – IRR of RA 10667Rules and Regulations to Implement the Provisions of Republic Act No. However, where MIFT is utilized, the Supervising Authorities shall issue pertinent rules on validation procedures; (e) Cross border and domestic wire/fund transfers and related message not exceeding a threshold amount to be determined by the Supervising Authorities or its equivalent in foreign currency shall include accurate and meaningful originator and beneficiary information. – The Covered Transaction Report (CTR) and the Suspicious Transaction Report (STR) shall be in the forms prescribed by the AMLC. 9295, entitled “an act promoting the development of philippine domestic shipping, shipbuilding, and ship repair and ship breaking, ordaining reforms in government policies towards shipping in the philippines… - (a) Any person who shall violate the provisions of Title III, Chapter IV of this Act, or its implementing rules and regulations, except Articles 81 to 83 of the same Chapter, shall be subject to a fine of not less than Five hundred pesos (P500.00) but not more than Twenty thousand pesos (P20,000.00) or imprisonment of not less than three (3) months but not more than two (2) years or both, at the discretion of the court: Provided, That, if the consumer … (2) The Rule of Procedure in Cases of Civil Forfeiture, Asset Preservation, and Freezing of Monetary Instrument, Property, or Proceeds representing, Involving, or Relating to an Unlawful Activity or Money Laundering Offense under Republic Act No. 9165, otherwise known as the Comprehensive Dangerous Drugs Act of 2002; (3) Hijacking and other violations under Republic Act No. Addenda to the Implementing Rules and Regulations of Republic Act No. Rule 10.c. The 2005 Implementing Rules & Regulations of R.A. No. 109 0 obj
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Smoking is prohibited in public land transport, aircraft, and public transport terminals. 9160 or the Anti-Money Laundering Act of 2001, as Amended, and its Implementing Rules and Regulations, and Guidelines and Other Issuances of the Anti-Money Laundering Council, and the Impos, Guidelines for Accreditation of Institutional Training Providers on AMLA, Rules on the Imposition Of Administrative Sanctions Under Republic Act NO. Rule 9.a.16. 1405, as amended; Republic Act No. -. Approved this 23rd day of August 2012 in the City of Manila. Seconded personnel shall receive, in lieu of their respective compensation packages from their respective mother units, the salaries, emoluments and all other benefits which their AMLC Secretariat positions are entitled to. (b) A securities dealer includes any person who buys and sells securities for his/her account in the ordinary course of business. 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