Implementing Rules and Regulations of the Anti-Money Laundering Act No. 9160

Philippines

(enacted in 2001)

Implementing Rules and Regulations of the Anti-Money Laundering Act No. 9160 of 2001 prescribe procedures and guidelines for preventing money laundering activities in the Philippines.

The regulations address the following:

  • Declaration of Policy;
  • Definitions;
  • Money Laundering Offense;
  • Jurisdiction over Money Launder Cases and the Money Laundering Investigation Procedures;
  • Prosecution of Money Laundering;
  • Creation of Anti-Money Laundering Council (AMLC);
  • Creation of a Secretariat;
  • Prevention of Money Laundering:
    • Customer Identification Requirements and Record Keeping;
  • Authority to Freeze Accounts;
  • Authority to Inquire into Bank Deposits;
  • Forfeiture Provisions;
  • Mutual Assistance among States;
  • Penal Provisions;
  • System of Incentives and Rewards;
  • Prohibitions Against Political Harassment;
  • Restitution;
  • Implementing rules and Regulations and Money Laundering Prevention Programs;
  • Congressional Oversight Committee;
  • Appropriations for and budget of the AMLC;
  • Separability Clause;
  • Repealing Clause; and
  • Effectivity of the Rules.