May 22, 2009
AMLC RESOLUTION NO. 047-09
In Resolution No. 08, Series of 2008, the Council recommended to the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission and the Insurance Commission to adopt and implement guidelines for the covered institutions under their respective jurisdictions for purposes of harmonizing the requirements on customer identification as required under the Anti-Money Laundering Act (AMLA) of 2001, as amended, and its Revised Implementing Rules and Regulations. The guidelines shall include: ECTIHa
"1. Clients engaging in transactions with CIs for the first time shall present to the CIs concerned the original of one (1) valid photo-bearing ID issued by an official authority. For this purpose, the term "official authority" shall refer to any of the Government of the Republic of the Philippines, its political subdivisions or instrumentalities, GOCCs and private entities or institutions registered with or regulated or supervised either by the Bangko Sentral ng Pilipinas or Securities and Exchange Commission or Insurance Commission.
xxx xxx xxx."
To enable foreigners to engage in transactions with covered institutions, the aforecited guidelines should be supplemented...
