December 7, 2001
BSP MEMORANDUM
TO : Memorandum to all Banks and Off-Shore Banking Units
For your information, quoted hereunder is Resolution No. 15 dated December 7, 2001 of the Anti-Money Laundering Council (AMLC), created under the provisions of RA No. 9160.
"Republic of the Philippines
ANTI-MONEY LAUNDERING COUNCIL
Bangko Sentral ng Pilipinas Complex
Manila
RESOLUTION NO. 15
The Council, by unanimous vote, decided as follows:
Whereas, Section 3 (i) (12) of Republic Act (RA.) No. 9160 considers acts of terrorism like the September 11, 2001 terrorist attacks against the United States of America as an unlawful activity transacting the proceeds of which is punishable as money laundering under said law;
Whereas, Sections 7 (8) and 13 of RA. No. 9160 vest in the AMLC the power to act on requests of foreign states for assistance in their own anti-money laundering operations;
Whereas, President George W. Bush of the United States of America issued Executive Order No. 13224 and its Annex dated September 23, 2001 identifying certain terrorist individuals and organizations as constituting an unusual and extraordinary threat to the national security, foreign policy and economy...
