ANTI-MONEY LAUNDERING COUNCIL

AML / KYC

BSP Approves Rules to Implement New Anti-Scam Law

By Sanday Chongo Kabange | 03/06/2025

BSP approved changes to rules on freezing of suspicious funds, account information sharing, and IT risk management.

AML / KYC

Philippines AMLC Probes Alleged ML of Murdered Billionaire’s Ransom

By Nithya Subramanian | 16/05/2025

Authorities are investigating how PHP 200 million in ransom paid for kidnapped businessman Anson Que was laundered through casino junkets, e-wallets, and crypto.

AML / KYC

BSP Issues Draft Rules on Sharing of Financial Account Information

By Sanday Chongo Kabange | 23/01/2025

The rules will implement a requirement of the Anti-Financial Account Scamming Act, which allows financial account information to be shared with enforcement agencies.

AML / KYC

Philippine AMLC Issues New Transaction Reporting Guidelines

By Sanday Chongo Kabange | 12/01/2025

The AMLC says the guidelines, to be adopted in phases, are intended to help covered persons carry out one of their “primary duties”

AML / KYC

Indonesia Captures Former Philippine Mayor Charged for Money Laundering

By Editors | 05/09/2024

The former mayor Alice Guo fled the Philippines in July after she was accused of helping to set up an illegal online gambling and scam centre.

AML / KYC

BSP Details Efforts to Address Fraud and Scam Threats

By Bradley Maclean | 25/06/2024

BSP officials discuss efforts to address fraud and scam threats through new requirements for banks and a thematic review of fraud management during 2024.

AML / KYC

AMLC Names and Shames DNFBPs That Have Failed to Register

By Sanday Chongo Kabange | 01/04/2024

The AMLC named one real estate developer and ten jewelry dealers that have failed to comply with their registration obligations.

AML / KYC

Philippines: FIs That Deal with Unregistered DNFBPs Will Face Penalties

By Sanday Chongo Kabange | 29/02/2024

The AMLC said covered persons can only conduct business dealing with DNFBPs if they have valid registration certificates.

AML / KYC

Philippines Directs DNFBPs to Tighten Suspicious Transaction Reporting

By Sanday Chongo Kabange | 02/01/2024

Amended AMLC guidelines say no administrative, criminal or civil proceedings shall lie against any person for filing CTRs or STRs in good faith.