ANTI-MONEY

LAUNDERING ACT OF 2001

REPUBLIC ACT NO. 9160
as amended by Rep. Acts Numbered 9194, 10167, and 10365

A. Important Defined Terms:

(i) Covered persons
(ii) Covered transaction
(iii) Suspicious transaction
(iv) Unlawful activity

B. What Constitutes a Money Laundering Offense

(i) Acts done in relation to, and with knowledge of, proceeds of unlawful activities
(ii) Failure to report

C. Jurisdiction of Money Laundering Cases

(i) Regional Trial Courts
(ii) Sandiganbayan
(iii) Court of Appeals

D. AMLA and Unlawful Activity Prosecutions

(i) Any person may be charged with and convicted of both the offense of money laundering
and the unlawful activity
(ii) The prosecution of any offense or violation under this Act shall proceed independently
of any proceeding relating to the unlawful activity.

E. Anti-Money Laundering Council (AMLC)

(i) Composition
(ii) Powers and Responsibilities

F. Prevention of Money Laundering; Customer Identification Requirements and Record Keeping. –

(i) Customer Identification
a. General obligation
b. Numbered Accounts
(ii) Record Keeping
(iii) Reporting of Covered and Suspicious Transactions

G. Freezing of Monetary Instruments or Properties

H. Authority to Inquire into Bank Deposits

I. Forfeiture Provisions

(i) Civil Forfeiture
(ii) Claim on Forfeited Assets
(iii) Payment in Lieu of Forfeiture

J. Penal Provisions