5 Questions
ANTI-MONEY LAUNDERING ACT (9160) As amended by RA 9194, 10167, 10927, and 11521 Declared Policies To protect and preserve the integrity and confidentiality of bank accounts and to ensure that the Philippines shall not be used as a money laundering site for the proceeds of any ______
unlawful activity
Pursue State's policy to extend cooperation in transnational investigations and prosecutions of persons involved in money laundering activities wherever committed, as well as in the implementation of targeted financial sanctions related to the financing of the proliferation of weapons of mass destruction, terrorism, and financing of terrorism, pursuant to the resolution of the United Nations Security ______
Council
AMLA seeks to prevent money laundering activities by providing more transparency in the Philippine financial ______
system
What is Money Laundering?A crime whereby the proceeds of an unlawful activity are transacted or attempted to be transacted to make it appear to have originated from legitimate ______
sources
It is committed by any person who knowing that any monetary instrument or property represents, involves, or relates to the proceeds of any ______ activity: 1.Transacts said monetary instrument or property; 2.Converts, transfers, disposes of, moves, acquires, possesses or used said monetary instrument or property; 3.
unlawful
Study Notes
Anti-Money Laundering Act (9160)
- Declared policies include protecting and preserving the integrity and confidentiality of bank accounts and preventing the Philippines from being used as a money laundering site
- Aims to extend cooperation in transnational investigations and prosecutions of persons involved in money laundering activities and implementation of targeted financial sanctions related to the financing of weapons of mass destruction, terrorism, and financing of terrorism
What is Money Laundering?
- A crime that involves transacting or attempting to transact proceeds of an unlawful activity to make it appear legitimate
- Committed by a person who knows that a monetary instrument or property represents, involves, or relates to the proceeds of any unlawful activity
- Examples of money laundering activities:
- Transacting said monetary instrument or property
- Converting, transferring, disposing of, moving, acquiring, possessing or using said monetary instrument or property
Test your knowledge on the Anti-Money Laundering Act (RA 9160) as amended by RA 9194, 10167, 10927, and 11521. Explore the declared policies aimed at protecting bank account integrity, preventing money laundering, and promoting cooperation in transnational investigations.
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