April 29, 2005
AMLC RESOLUTION NO. 042-05
Whereas, the covered and suspicious transaction reports (CTRs/STRs) being received by the AMLC from the covered institutions are in various states of submission and generally fall within the following categories:
1. STRs submitted in hard copy without the corresponding electronic copy or electronic copy without the corresponding hard copy
2. CTRs submitted in hard copy or diskette not in the required format
Whereas, the AMLC Resolution No. 317 dated 30 December 2003 states:
2. "To require all covered institutions under the AMLA, as amended, to submit Covered Transaction Reports using the new forms (Annexes A, B, C) starting the first working day of January 2004, retroactive to March 23; 2003."
3. "To require all covered institutions under the AMLA, as amended, to submit Suspicious Transaction Reports using the new forms beginning the first working day of January 2004."
Whereas, Rule 9.3.b.2 of the Revised Implementing Rules and Regulations of R.A. No. 9160, as amended by R.A. 9194 states:
"Covered transaction reports and suspicious transaction reports shall be submitted in a secured manner to the...
