The Anti-Money Laundering Council (AMLC) is the agency of the Government of the Philippines that is tasked to implement the provisions of Republic Act No. 9160, also known as the “Anti-Money Laundering Act of 2001” (AMLA), as amended, and Republic Act No. 10168, also known as the “Terrorism Financing Prevention and Suppression Act of 2012” (TFPSA).
The AMLC may refer to (1) the government agency or (2) the Council, which heads the said government agency.
Mandateedit
The AMLC is mandated to implement the AMLA and TFPSA, in accordance with the following State policies:
AMLAedit
To protect and preserve the integrity of the Philippine financial system, including the confidentiality of bank accounts.[2]
To ensure that the Philippines shall not be used as a money laundering site for the proceeds of any unlawful activity.[2]
To extend cooperation, consistent with Philippines’ foreign policy, in transnational investigations and prosecutions of persons involved in money laundering activities wherever committed.[2]
TFPSAedit
To protect life, liberty and property from acts of terrorism and to condemn terrorism and those who support and finance it; and to recognize it as inimical and dangerous to national security and the welfare of the people; and to make the financing of terrorism a crime against the Filipino people, against humanity and against the law of nations.[3]
To recognize and to adhere to international commitments to combat the financing of terrorism, specifically to the International Convention for the Suppression of the Financing of Terrorism, as well as other binding terrorism related resolutions of the United Nations Security Council, pursuant to Chapter 7 of the United Nations Charter.[3]
To reinforce the fight against terrorism by preventing and suppressing the commission of said offenses through freezing and forfeiture of property or funds while protecting human rights.[3]
Reynaldo A. Regalado (IC, 29 March 2023 – present)
Organizational structureedit
The AMLC is headed by the council. The chief executive officer of the AMLC is the executive director.
The AMLC consists of three major operational units:
Office of the Executive Director (OED)
Detection and Prevention Department (DPD)
Investigation and Enforcement Department (IED)
Under the OED are the following functional groups/units:
Administrative and Financial Services Group (AFSG)
Commitments and Policy Group (CPG)
Counseling, Adjudication, and Mutual Legal Assistance Unit (CAMU)
Enterprise Technology Management Group (ETMG)
Enterprise Audit Staff (EAS)
Under the DPD are the following functional groups/units:
Financial Intelligence and Analysis Group (FIAG)
Compliance and Supervision Group (CSG)
Under the IED are the following functional groups/units:
Financial Crimes Investigation Group (FCIG)
Litigation and Evaluation Group (LEG)
Executive directorsedit
Rule 6, Section 2 of the 2018 Implementing Rules and Regulations, in relation to Section 8 of Republic Act No. 9160, as amended, states that the Executive Director shall be the chief executive officer of the AMLC. The following are the past and present Executive Directors of the AMLC:
(Ret.) Judge Pio C. Guerrero
November 2001 – May 2002
Atty. Vicente S. Aquino
May 2002 – March 2013
Atty. Julia C. Bacay-Abad
March 2013 – 31 January 2017
Atty. Mel Georgie B. Racela
01 February 2017 – 10 August 2017 (as Officer-in-Charge); 18 August 2017 – 17 August 2022
Republic Act No. 10365 – Further Strengthening the AMLA
Republic Act No. 10927 – Designating Casinos as Covered Persons under the AMLA
Republic Act No. 11521 – Further Strengthening the AMLA
2016 Revised Implementing Rules and Regulations of Republic Act No. 9160, As Amended (2016 RIRR)
2018 Implementing Rules and Regulations of Republic Act No. 9160, As Amended (2018 IRR) (January 2021 Update)
Casino Implementing Rules and Regulations of Republic Act No. 10927 (CIRR)
Anti-Money Laundering/Counter-Terrorism Financing Guidelines for Designated Non-Financial Businesses and Professions (DNFBP Guidelines)
Rules of Procedure in Administrative Cases under Republic Act No. 9160, as Amended (RPAC)
A.M. No. 05-11-04-SC – Rule of Procedure in Cases of Civil Forfeiture, Asset Preservation, and Freezing of Monetary Instrument, Property, or Proceeds Representing, Involving, or Relating to an Unlawful Activity or Money Laundering Offense under Republic Act No. 9160, as Amended.
Republic Act No. 10168 – Terrorism Financing Prevention and Suppression Act of 2012
Implementing Rules and Regulations of Republic Act No. 10168
Referencesedit
^"OFFICIAL GAZETTE" (PDF). www.dbm.gov.ph. 29 December 2017. Retrieved 2019-10-11.
^ abcd"Republic Act 9194". Bangko Sentral ng Pilipinas. This article incorporates text from this source, which is in the public domain.
^ abc"Republic Act No. 10168". Official Gazette of the Republic of the Philippines. 18 June 2012. This article incorporates text from this source, which is in the public domain.
^"Pres. Aquino Appoints BSP Gov. Tetangco for a Second Term and Two MB Members". www.bsp.gov.ph. 2011. Retrieved 2019-10-11.
^"Duterte appoints new Insurance Commission chief | Money | GMA News Online". Gmanetwork.com. 23 December 2016. Retrieved 2019-10-11.
^"Duterte taps most seasoned, least politically connected exec as next BSP chief | Inquirer Business". 2017-05-08. Retrieved 2019-10-11.
^"Emilio Aquino is new SEC Chairman | Inquirer News". 2018-06-06. Retrieved 2019-10-11.
^"Duterte picks Diokno as new Bangko Sentral chief | ABS-CBN News". News.abs-cbn.com. Retrieved 2019-10-11.
^"Ex-NEDA chief Felipe Medalla is next Bangko Sentral Governor: Marcos Jr | ABS-CBN News". News.abs-cbn.com. Retrieved 2022-06-06.