November 13, 2001
BSP MEMORANDUM
TO : All Banks and Off-Shore Banking Units
For your information, quoted hereunder is Resolution No. 8 dated November 5, 2001 of the Anti-Money Laundering Council (AMLC), created under the provisions of R.A. No. 9160.
“MONEY LAUNDERING COUNCIL
Manila, Philippines
Min. No. 1 – November 5, 2001
8. Decision to Require Supervising Authorities to Circularize Executive Order No. 13224 and its Annex issued by President George W. Bush of the United States and Other Terrorist Lists supplemental thereto and Require Covered Institutions to Report Covered Transactions in accordance with the Pertinent Provisions of Republic Act (R.A.) No. 9160
The Council, by unanimous vote, decided as follows:
Whereas Section 3 (i) (12) of Republic Act (R.A.) 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 R.A. No. 9160 vest in the AMLC the power to act on requests of foreign states for assistance in their own...
