January 24, 2013
AMLC RESOLUTION NO. 010-C-13
In March 2009, the Financial Sector Liaison Committee (FSLC) was organized by the Anti-Money Laundering Council (AMLC) to convene the supervising authorities and various organizations representing the covered institutions, and conduct quarterly fora to discuss issues on Money Laundering and Financing of Terrorism as defined in the AMLA of 2001, as amended. The FSLC is chaired by the AMLC through the AMLC Secretariat Executive Director.
A Technical Working Group (FLSC-TWG) was created by the FSLC to review the data collection system of covered institutions specifically on reporting covered and suspicious transactions, thus, providing useful information in the financial analysis and investigation function of the AMLC.
Various issues and concerns were submitted before the body relative to the submission of CTRs and STRs.
In its Memorandum dated 28 November 2012, the FLSC-TWG proposed some measures to reconcile the issues which will improve the data collection strategy and provide useful information to the AMLC Secretariat.
The Council resolved to adopt the following policies in the data collection system for uniform implementation by all covered institutions:
I....
