ANTI-MONEY LAUNDERING COUNCIL

AML / KYC

BSP Calls for ‘Limited Amendment’ to Bank Secrecy Law

By Editors | 27/08/2022

BSP senior assistant governor Elmore Capule told a Senate Committee the BSP is looking for a “limited relaxation of the bank secrecy laws”.

AML / KYC

Philippine AMLC Tightens Requirements on DNFBPs

By Editors | 18/08/2022

Updated AML/CFT guidelines require DNFBPs to submit proof that their proprietors, partners, directors and principal officers have attended an AML seminar.

AML / KYC

AMLC Philippines Launches Review of Sanctions Screening Practices

By Editors | 26/04/2022

The AMLC has partnered with AML Analytics as its testing and validation partner to conduct a thematic review of customer- and transaction-screening systems at FIs and DNFBPs.

AML / KYC

Philippine Banks Directed to Monitor Gaming-related Transactions

By Editors | 25/04/2022

FIs are asked to bolster their CDD and file reports when suspicious transactions are observed involving play-to-earn games such as the recently-hacked Axie Infinity.

AML / KYC

Philippine NPO Sector Rated as Medium Risk for Terrorist Financing

By Sanday Chongo Kabange | 12/04/2022

The SEC warns that suspected or actual misuse of the NPO sector for terrorism financing can present serious ramifications for an NPO’s intended beneficiaries.

AML / KYC

Philippine AMLC Extends Deadline for DNFBP AML Programmes

By Editors | 10/03/2022

The deadline for DNFBPs to formulate a money laundering and terrorism financing prevention programme has been extended to June.

AML / KYC

Philippine AMLC Asks FIs to Guard Against Digital Vote-Buying

By Editors | 21/02/2022

The advisory comes in anticipation of an influx of financial activities that usually occur during elections. The Philippines has a general election on 8 May.

AML / KYC

BSP Directs Banks to Help Curb Vote-Buying Ahead of National Election

By Editors | 05/01/2022

Banks should “at a minimum” consider four scenarios when calibrating their fraud management systems and account and transaction monitoring rules/parameters.

Press Release

Regulation Asia: Top 20 News Stories for 2021

By Editors | 23/12/2021

This list presents the most-read new stories published by Regulation Asia in 2021, based on aggregated user traffic analytics.