August 17, 2011
AMLC RESOLUTION NO. 093-11
In the 2008 Mutual Evaluation Report (MER) on the Philippine AML/CFT Regime, the Joint Assessment Team from the World Bank and the Asia/Pacific Group on Money Laundering (APG), recommended, among others, that the "AMLC should consider amending its requirement to allow only electronic transfer of STRs if an electronic signature is included". During the Plenary Meeting in Brisbane, Australia on 8 July 2009, the APG adopted the said MER.
Rule 9.3.b.2 of the Revised Implementing Rules and Regulations (RIRRs) of the Anti-Money Laundering Act of 2001 (AMLA), as amended, provides that "covered transaction reports and suspicious transaction reports shall be submitted in a secured manner to the AMLC in electronic form, either via diskettes, leased lines, or through internet facilities, with the corresponding hard copy for suspicious transactions" (emphasis supplied).
The AMLC, in its Resolution No. 408, Series of 2004, approved the implementation of the File Transfer and Reporting Facility (FTRF) which addresses the secure transfer of electronic reports from covered institutions to the AMLC's System. One of the security features...
