Podcast
Questions and Answers
What is the main purpose of the Anti-Money Laundering Act (AMLA) in the Philippines?
What is the main purpose of the Anti-Money Laundering Act (AMLA) in the Philippines?
- To encourage the financing of terrorism within the country.
- To promote money laundering activities in the financial system.
- To facilitate the use of the Philippines as a money laundering site.
- To protect and preserve the integrity and confidentiality of bank accounts. (correct)
What does Money Laundering involve?
What does Money Laundering involve?
- Transacting legal monetary instruments.
- Converting legitimate funds into illicit proceeds.
- Possessing monetary instruments from lawful sources.
- Attempting to make illegal proceeds appear legal. (correct)
What does the Anti-Money Laundering Act seek to prevent through increased transparency?
What does the Anti-Money Laundering Act seek to prevent through increased transparency?
- Tax evasion in the financial system.
- Money laundering activities. (correct)
- Terrorist financing activities.
- Illegal drug trafficking.
- Corruption and bribery schemes.
Who may commit Money Laundering according to the text?
Who may commit Money Laundering according to the text?
One way Money Laundering is committed is by ____________ monetary instruments or property.
One way Money Laundering is committed is by ____________ monetary instruments or property.
What does the Anti-Money Laundering Act aim to protect and preserve?
What does the Anti-Money Laundering Act aim to protect and preserve?
Which of the following is NOT a declared policy under the Anti-Money Laundering Act?
Which of the following is NOT a declared policy under the Anti-Money Laundering Act?
What is the main objective underlying the pursuit of transnational investigations and prosecutions according to the text?
What is the main objective underlying the pursuit of transnational investigations and prosecutions according to the text?
What must a person do with monetary instruments or property to commit Money Laundering?
What must a person do with monetary instruments or property to commit Money Laundering?
Which international body's resolutions guide the implementation of targeted financial sanctions related to terrorism financing according to the text?
Which international body's resolutions guide the implementation of targeted financial sanctions related to terrorism financing according to the text?
Flashcards
What is the main purpose of the Anti-Money Laundering Act (AMLA) in the Philippines?
What is the main purpose of the Anti-Money Laundering Act (AMLA) in the Philippines?
The Anti-Money Laundering Act (AMLA) in the Philippines aims to protect the integrity and confidentiality of bank accounts.
What does Money Laundering involve?
What does Money Laundering involve?
Money laundering involves making illegal profits appear legitimate.
What does the Anti-Money Laundering Act seek to prevent through increased transparency?
What does the Anti-Money Laundering Act seek to prevent through increased transparency?
The Anti-Money Laundering Act seeks to prevent money laundering by increasing transparency in financial transactions.
Who may commit Money Laundering according to the text?
Who may commit Money Laundering according to the text?
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One way Money Laundering is committed is by ____________ monetary instruments or property.
One way Money Laundering is committed is by ____________ monetary instruments or property.
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What does the Anti-Money Laundering Act aim to protect and preserve?
What does the Anti-Money Laundering Act aim to protect and preserve?
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Which of the following is NOT a declared policy under the Anti-Money Laundering Act?
Which of the following is NOT a declared policy under the Anti-Money Laundering Act?
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What is the main objective underlying the pursuit of transnational investigations and prosecutions according to the text?
What is the main objective underlying the pursuit of transnational investigations and prosecutions according to the text?
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What must a person do with monetary instruments or property to commit Money Laundering?
What must a person do with monetary instruments or property to commit Money Laundering?
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Which international body's resolutions guide the implementation of targeted financial sanctions related to terrorism financing according to the text?
Which international body's resolutions guide the implementation of targeted financial sanctions related to terrorism financing according to the text?
Signup and view all the flashcards
Study Notes
Anti-Money Laundering Act (AMLA) in the Philippines
- The main purpose of the AMLA is to prevent money laundering and terrorist financing.
- Money laundering involves the concealment of illegally obtained funds to make them appear legitimate.
What is Money Laundering?
- Money laundering involves the act of making illegally obtained funds appear legitimate.
AMLA Objectives
- The AMLA seeks to prevent money laundering and terrorist financing through increased transparency.
- The AMLA aims to protect and preserve the integrity of the financial system.
Who may commit Money Laundering?
- Any person can commit money laundering.
How is Money Laundering committed?
- One way money laundering is committed is by transporting, transferring, or dealing with monetary instruments or property with the intention of concealing their source.
AMLA Goals
- AMLA aims to prevent the use of the financial system for illegal activities.
- AMLA aims to protect the integrity of the financial system.
International Cooperation
- The main objective underlying the pursuit of transnational investigations and prosecutions is to combat money laundering and terrorist financing.
- The Financial Action Task Force (FATF) resolutions guide the implementation of targeted financial sanctions related to terrorism financing.
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Description
Test your knowledge on the Anti-Money Laundering Act (RA 9160) and its amendments by RA 9194, 10167, 10927, and 11521. Explore the declared policies aimed at protecting bank account integrity, preventing money laundering activities, and promoting cooperation in transnational investigations.
