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RA9160outline Report

The document summarizes key aspects of Republic Act No. 9160, also known as the Anti-Money Laundering Act of 2001. It establishes that the Act defines and penalizes money laundering. It creates the Anti-Money Laundering Council (AMLC) as the government agency tasked with implementing the Act, including investigating suspicious transactions. The AMLC is mandated to investigate money laundering offenses and file complaints to pursue prosecution. The Act also defines money laundering and predicate offenses, establishes the elements of money laundering crimes, and prescribes preventive measures that covered persons must follow.

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45 views

RA9160outline Report

The document summarizes key aspects of Republic Act No. 9160, also known as the Anti-Money Laundering Act of 2001. It establishes that the Act defines and penalizes money laundering. It creates the Anti-Money Laundering Council (AMLC) as the government agency tasked with implementing the Act, including investigating suspicious transactions. The AMLC is mandated to investigate money laundering offenses and file complaints to pursue prosecution. The Act also defines money laundering and predicate offenses, establishes the elements of money laundering crimes, and prescribes preventive measures that covered persons must follow.

Uploaded by

Stephen Mallari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Republic Act No.

9160

otherwise known as the Anti-Money Laundering Act of 2001, as amended by Republic Act No.
9194, 10167, and 10365 (AMLA), defines and penalises money laundering.

The AMLC

Created by the Anti-Money Laundering Act.

The AMLC is the government agency tasked with implementing the AMLA, including the
investigation of suspicious transactions and covered transactions deemed suspicious after its
investigation (AMLA, section 7(5))

also mandated to act unanimously in the discharge of its functions, which include:

a. the implementation of necessary measures to counteract money laundering;

b. investigation of suspicious transactions and covered transactions deemed suspicious


after an investigation by the AMLC;

c. filing of complaints with the Department of Justice or the Ombudsman for the
prosecution of money laundering offences;

d. institution of civil forfeiture proceedings and all other remedial proceedings through the
Office of the Solicitor General, among others (AMLA, section 7); and

e. investigation of financing of terrorism and any property or funds that relates to said
offence (Republic Act No. 10168, section 10).

f. The AMLA provides the different court remedies available to the AMLC, such as freeze
orders, authorisation to inquire into bank deposits and forfeiture (AMLA, sections 10, 11
and 12).

g. The AMLA further prescribes preventive measures, including customer identification,


record keeping and reporting of covered and suspicious transactions by covered
persons (AMLA, section 9).

PROCESS

INFORMATION
PROSECUTION
AMLC OF CRIMINAL
CASE

COMPLAINT (DOJ
PRELIMINARY
or OMBUDSMAN)
INVESTIGATION
DEFENDANTS

The offence of money laundering may be committed by any person or by any covered person
who, knowing that a covered or suspicious transaction is required under the AMLA to be
reported to the AMLC, fails to do so.

These terms as defined under the AMLA include both natural or juridical persons (AMLA,
section 3(a) and (e)).

OFFENSE

Section 4 of the AMLA defines money laundering as a crime whereby the proceeds of an
unlawful activity are transacted and such proceeds are made to appear to have originated from
legitimate sources.

An offender who transacts or attempts to transact any monetary instrument or property known
by him or her to be related to an unlawful activity, or performs an act that facilitates a transaction
involving such a monetary instrument or property, is liable under the AMLA. Likewise to an
offender who fails to perform an act and as a result of which facilitates money laundering or who
fails to disclose such a monetary instrument or property to the AMLC as required by the AMLA.
And An offender who knowingly fails to report a covered or suspicious transaction required
under the AMLA to the AMLC

All the elements of every money laundering offence as defined under section 4 of the AMLA
must be proved by evidence beyond reasonable doubt, including the element of knowledge that
the monetary instrument or property represents, involves, or relates to the proceeds of an
unlawful activity (RIRR, rule 6.6).

Elements of Money Laundering are:

a. transacts the said monetary instrument or property;


b. converts, transfers, disposes of, moves, acquires, possesses or uses the said monetary
instrument or property; or
c. conceals or disguises the true nature, source, location, disposition, movement or
ownership of or rights with respect to the said monetary instrument or property.
d. an attempt or conspiracy to commit the money laundering offences referred to above;
e. aiding, abetting, assisting in or counselling the commission of the offences referred to
above; and
f. performing or failure to perform any act that facilitates the commission of the offences
referred to above.
g. what should be established is the element of knowledge of the offender that the
monetary instrument or property represents, involves or relates to the proceeds of an
unlawful activity or that any covered or suspicious transaction is required under the
AMLA to be disclosed and filed with the AMLC. Such knowledge may be established by
direct evidence or inferred from attendant circumstances (RIRR, rule 6.5)

also includes Predicate offences, these offences can be characterised as serious and heinous
offences (Section 3(i) of the AMLA):
a. kidnapping for ransom
b. importation and sale of prohibited drugs
c. robbery and extortion
d. hijacking
e. arson and murder.

Examples of predicate offences that involve corruption of public officials include:


a. violations of Republic Act No. 3019 or the Anti-Graft and Corrupt Practices Act
b. Republic Act No. 7080. Smuggling, which constitutes a violation of customs laws, is also
classified as a predicate offence.
c. Violations of special statutes, such as the Republic Act No. 8792 or the Electronic
Commerce Act
d. Republic Act No. 7394 or the Consumer Act and Republic Act No. 8799 or the Securities
Regulation Code also constitute as predicate offences. Terrorism and conspiracy to
commit terrorism as defined under the Republic Act No. 9372 or the Human Security Act
of 2007

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