ANTI –MONEY

LAUNDERING:

RA 9160 RA 9194
RA 10167 RA 10365
RA 10929
PURPOSE: (1) C +I of BA (2)
PH prevent ML Site (3)
Cooperate TN, I, and P
Money Laundering is a
crime by with proceeds of
UA and are transacted
and making them appear
to have come from legit
sources.
Stages of Money
Laundering

Preventive Measures
Placement: money is
introduced in the
financial system.
Layering: a series or
combination of
transactions that is
designed to erase the
trace of unlawful
activities.
Integration: where the
money can be use as if it
is legitimate.
Costumer Identification:
Costumer Due Diligence -
Know Your Costumer
(KYC) does not only
checked the identity but
also the background as a
person e.g. business,
work, and sidelines.
Record Keeping:
Submitted Documents
and Transactions must
be kept but is subject for
disposal after 5 years.
Transaction Reporting
institution is obliged to
submit reports