Amendments to Part Eight or the Anti-Money Laundering Regulations of the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions

March 15, 2017BSP CIRCULAR NO. 950-17SUBJECT:Amendments to Part Eight or the Anti-Money Laundering Regulations of the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions By the authority vested to the Bangko Sentral ng Pilipinas to issue guidelines and circulars on anti-money laundering (AML) and combating the financing of terrorism (CFT), in order to effectively implement the provisions of Republic Act (R.A.) No. 9160, otherwise known as the "Anti-Money Laundering Act of 2001" (AMLA), as amended by R.A. Nos. 9194, 10167 and 10365, as provided under Rule 18 of the Revised Implementing Rules and Regulations (RIRR) of the AMLA, as amended, as well as R.A. No. 10168 or The Terrorism Financing Prevention and Suppression Act of 2012, as provided under Rule 27 of its Implementing Rules and Regulations (IRR), the Monetary Board, in its Resolution No. 334 dated 23 February 2017, approved the following amendments to Part Eight or the Anti-Money Laundering Regulations of the Manual of Regulations for Banks (MORB) and Manual of Regulations for Non-Bank Financial Institutions (MORNBFI). SECTION...