December 14, 2017
AMLC LETTER NO. AMLET-17-002
TO | : | All Covered Persons (except Casinos) under Republic Act (RA) No. 9160, as Amended |
SUBJECT | : | AMLC Regulatory Issuance (ARI) (A) No. 4, Series of 2017 |
AMLC Registration and Reporting Guidelines |
On 15 November 2017, The Anti-Money Laundering Council (AMLC) issued AMLC Resolution No. 107, series of 2017, approving the AMLC Registration and Reporting Guidelines. On 8 December 2017, the Executive Director of the AMLC Secretariat issued ARI (A) No. 4, series of 2017, designating the ARRG as such.
Said ARI (A) No. 4 is the AMLC's comprehensive effort to provide the legal and policy framework for registration by covered persons into the AMLC's online system, and to ensure proper and timely compliance with reporting procedures.
ARI (A) No. 4 applies the new eighteen (18)-digit institution code adopted by the Bangko Sentral ng Pilipinas (BSP) for money service business (MSBs) and pawnshops. However, the eleven (11)-digit institution code continues to apply to other types of covered persons. ARI (A) No. 4 further reiterates the requirement on covered persons to...