January 7, 2002
BSP CIRCULAR LETTER
TO : All Banks/NBFs:
Attached is a Model Anti-Money Laundering Operating Manual which we endorse as a guide/reference material in developing your own anti-money laundering programs and in complying with R.A. No. 9160, otherwise known as the "Anti-Money Laundering Law of 2001" as well as with the various BSP rules and regulations against money laundering.
For your reference/guidance.
(SGD.) ALBERTO V. REYES
Deputy Governor
ATTACHMENT
ANTI-MONEY LAUNDERING MODEL OPERATING MANUAL FOR BANKS AND OTHER COVERED INSTITUTIONS
GUIDELINES ON MEASURES AGAINST MONEY LAUNDERING
Introduction
The international drive against serious crimes, especially drug trafficking and terrorism, had led to an obligation on banks and other financial institutions to do whatever they can to avoid transactions which assist criminals in laundering the proceeds of their crime. Banks and Non-bank Financial Institutions under the supervising and regulation of the Bangko Sentral ng Pilipinas must support this drive and assist the authorities in identifying potential money laundering transactions. These guidelines are therefore, adopted to support governments, law enforcement agencies and international bodies such as the Financial Action Task Force in their efforts to combat...
