Atty.

Macmod

Anti-Money Laundering Law

1. The law governing money laundering is a) _______________________ also
known as b) ________________ which took effect on c) __________________.

2. The law criminalizes a) ____________________ and considers it as a

b) ______________, used as financial strategy especially by c) ______________.

3. The term a) _______________ covers all acts wherein b) ______________ are

made to appear as c) _________________.

4. The law provided for a) _______________ criminal acts, and the first five are
b)_____________, c)______________, d)______________, e) _____________ ,
f) ______________.

5. The law provided for the creation of a) __________ which will act as b)
_____________ with the principal duty of c) ___________________, and is
composed of d) __________ as chairman and as members e)
__________________ and f) ______________.

6. The institutions or organizations mandated by the said law to report to AMLC are
a) ___________ b) _______________ and c) ________________.

7. The KYC Rule means a) ____________________ which requires the b)

___________ to establish c) ____________________ based on d)
______________.

8. The transaction covered by the law is any transaction a) _________________

within b) ______________ or c) ______________ if involving d) ______________.

9. Failure of the a) _______________________ to report the above transactions or

similar acts covered by the law is punishable by b) _____________________
whereas breach by confidentiality is punishable by c) _____________________.

10. The above law still prohibits the AMLC or any financial institution to divulge the
balance of a depositor’s bank account as prohibited by a) ___________________
unless b) _________________ or c) ___________________ or d)____________.