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    Amla Questions

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    Shaïra Yadao Düe
    The document summarizes key aspects of anti-money laundering laws and regulations in the Philippines. It addresses the Anti-Money Laundering Act of 2001 (AMLA) which declares the state's policy of protecting bank account integrity and confidentiality. The Anti-Money Laundering Council (AMLC), chaired by the Bangko Sentral ng Pilipinas governor, spearheads mandates to preserve bank account confidentiality. Money laundering is defined as concealing or disguising unlawfully obtained proceeds to make them appear legitimate.

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    Amla Questions

    Uploaded by

    Shaïra Yadao Düe
    322 views2 pages
    The document summarizes key aspects of anti-money laundering laws and regulations in the Philippines. It addresses the Anti-Money Laundering Act of 2001 (AMLA) which declares the state's policy of protecting bank account integrity and confidentiality. The Anti-Money Laundering Council (AMLC), chaired by the Bangko Sentral ng Pilipinas governor, spearheads mandates to preserve bank account confidentiality. Money laundering is defined as concealing or disguising unlawfully obtained proceeds to make them appear legitimate.

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    Anti Money Laundering Act

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    The document summarizes key aspects of anti-money laundering laws and regulations in the Philippines. It addresses the Anti-Money Laundering Act of 2001 (AMLA) which declares the state's policy of protecting bank account integrity and confidentiality. The Anti-Money Laundering Council (AMLC), chaired by the Bangko Sentral ng Pilipinas governor, spearheads mandates to preserve bank account confidentiality. Money laundering is defined as concealing or disguising unlawfully obtained proceeds to make them appear legitimate.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    322 views2 pages

    Amla Questions

    Uploaded by

    Shaïra Yadao Düe
    The document summarizes key aspects of anti-money laundering laws and regulations in the Philippines. It addresses the Anti-Money Laundering Act of 2001 (AMLA) which declares the state's policy of protecting bank account integrity and confidentiality. The Anti-Money Laundering Council (AMLC), chaired by the Bangko Sentral ng Pilipinas governor, spearheads mandates to preserve bank account confidentiality. Money laundering is defined as concealing or disguising unlawfully obtained proceeds to make them appear legitimate.

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    BSA 3-12 2ND SEM 2015-2016 AMLA

    Identification
    1. It is the law that declared the policy of the state to protect the integrity
    and confidentiality of bank accounts in the Philippines.
    RA 9160 / ANTI-MONEY LAUNDERING ACT OF 2001
    2. Covered transactions are transactions in cash or other equivalent
    monetary instruments involving a total amount in excess of what amount?
    P 500 000
    3. In the council of Anti-Money Laundering Council, what position is assigned
    to the governer of the Bangko Sentral ng Pilipinas?
    CHAIRMAN
    4. What law is covered to strengthen the AMLA?
    R.A. NO. 10365
    5. It is the governing body which spearheads the mandating of protecting
    and preserving the integrity and confidentiality of bank accounts.
    ANTI-MONEY LAUNDERING COUNCIL
    6. It is defined as an act of series or combination of acts whereby proceeds of
    an unlawful activity are converted, concealed, or disguised to make them
    appear to have originated from legitimate sources.
    MONEY LAUNDERING
    True or False
    7. Breach of confidentiality is one of the offenses punishable under the AMLA.
    TRUE
    8. Failure to report covered/suspicious transactions on any person will be
    subjected to penalty of 1 to 5 years imprisonment or a fine not less than
    P500 000.00.
    FALSE

    9. The commissioner of Insurance Commission and the chairman of


    Securities and Exchange Commission are members of the AMLC.
    TRUE
    10. When reporting suspicious transaction to AMLC, covered officers and
    employees are allowed to communicate to each other.
    FALSE

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