Rappler's latest stories on Anti-Money Laundering Act
AMLC zooms in on jewelers, fund managers, lawyers, accountants
They are now required to register and submit deeds of undertaking to comply with the Anti-Money Laundering Act, as well as attend regular trainings
De Lima seeks inquiry into anti-money laundering law compliance
'Duterte should never be exempted from investigation and accountability,' says Senator Leila de Lima
Senate panel issues subpoena for ex-Comelec chief Bautista
Former Commission on Elections chairman Andres Bautista is ordered to attend a February 12 hearing on his alleged wealth, after he skipped the Senate inquiry thrice
Stricter AMLA reporting guidelines set to take effect
This is part of the Philippine government's campaign against money laundering and terrorism financing
AMLC adopts stricter controls against money laundering
The new controls include the requirement to upload reports of suspicious transactions within 5 days of occurrence as well as separate know-your-customer documents
Sedition, coup, graft complaints filed vs Trillanes
(2nd UPDATE) Senator Antonio Trillanes IV says the complaints will not stop him from 'exposing' President Rodrigo Duterte and his son, Davao City Vice Mayor Paolo Duterte
BSP outlines new rules, penalties for money launderers
These new rules and penalties will cover all BSP supervised personnel and are designed to ensure that the Philippines shall not be used as a money laundering site
Martial law, AMLA amendment, Mahathir | Evening wRap
Watch the evening newscast with Marguerite de Leon
Casinos now covered by anti-money laundering law
UPDATED Casinos are now required to report casino cash transactions exceeding P5 million according to AMLA amendments signed by President Rodrigo Duterte
Senate, House OK on final reading bills including casinos in AMLA
UPDATED The two chambers of Congress are set to convene a bicameral conference committee to finalize the measure before President Rodrigo Duterte signs it into law
U.S. labels Philippines as major money laundering site again
For the US State Department money laundering remains a serious concern in the Philippines due to its international narcotics trade corruption and weak laws
SC affirms constitutionality of AMLC provision to look into bank accounts
It allows the AMLC upon approval from the Court of Appeals to check the movement of money and history of the account Banks could then waive their confidentiality agreement without having to notify the account owners
Philippines asks for Bangladesh help on bank heist investigation
This is to strengthen the Philippine government s position in court proceedings that aim to retrieve the rest of the stolen funds
Fresh AMLA amendments include casinos, real estate, junket ops
Should the Congress pass the AMLA amendments AMLC will also have the power to issue an ex parte freeze order which will be effective immediately and will not exceed 30 days
RCBC chief counsel Estavillo quits
RCBC announces the resignation of lawyer Maria Celia Fernandez Estavillo over a week after the Anti Money Laundering Council filed criminal charges against several RCBC officers
AMLC files charges vs RCBC officers on Bangladesh Bank heist
The former treasurer and 5 other officers and employees of listed Rizal Commercial Banking Corporation RCBC are charged for violating Republic Act 9160 or the Anti Money Laundering Act of 2001
The pet bills of President Duterte
Duterte did not mention in his first SONA two bills that his top allies in the 17th Congress declared they would prioritize: the reimposition of the death penalty and the lowering to 15 years the minimum age of criminal responsibility
RCBC reorganizes board after Bangladesh Bank heist scandal
In the wake of the scandal RCBC strengthens its board of directors increasing the number of independent directors to 7 from the previous 4
Bangladesh envoy to Duterte: Help us recover $81M stolen funds
If the President is so serious about crime and corruption I think this is an issue that should be addressed Bangladesh Ambassador to the Philippines John Gomes says
Bill seeks inclusion of casinos, art and car dealers in AMLA
Senate Bill 45 wants to give more teeth to the Anti Money Laundering Council by authorizing it to issue freeze orders on questionable transactions and bank accounts
BSP cancels registration of PhilRem, Werquick, Peso Remittance
The cancellation stems from PhilRem s role in the elaborately planned 81 million Bangladesh Bank heist
RCBC names new officials after bank heist probe
As the Senate probe into the bank heist ends the embattled bank appoints new key officials
Hard lessons learned as Senate ends bank heist probe
Senators assure an upset Bangladesh Ambassador John Gomes that the money stolen from his government would be returned up to the last centavo as the Senate ends its probe on the grand money laundering scheme
Only Kim Wong keeps promise to sign waiver on phone records
The Senate is unable to gain access to the phone records of sacked RCBC branch manager Maia Santos Deguito and PhilRem owner Salud Bautista
PhilRem owners no-show in last Senate hearing on bank heist
PhilRem has the lowest credibility among them all They are consistently inconsistent says Senator Guingona as the blue ribbon committee wraps up its probe
Senate probe into Bangladesh Bank fund heist resumes May 17
Meanwhile the Bangladesh Bank chief and the head of the Federal Reserve Bank of New York will meet with SWIFT executives next week
AMLC files money laundering complaint vs PhilRem execs
The Anti Money Laundering Council says PhilRem officials were aware the funds coursed through the company were illegitimate as they deliberately ignored requirements to know the customer and record customer information
AMLC begins bid to seize assets linked to $81M bank heist
The Anti Money Laundering Council s first civil forfeiture case is against casino junket agent Kim Wong with more cases to come
Notary public denies signing affidavit of PhilRem messenger
In his 7 years working as a PhilRem messenger Mark Raymond Palmares says the transaction related to the 81 million stolen funds from the Bangladesh Bank account is the largest so far
BSP eyes bigger fines for banks violating anti-money laundering law
For Senator Sergio Osmeña III the RCBC money laundering issue is just the tip of the iceberg
BIR investigates PhilRem for possible tax evasion
Senator Teofisto TG Guingona III says the committee is studying the possibility of holding PhilRem liable for contempt for the owners inconsistent testimonies
Senate blue ribbon chair to PhilRem chief: 'You're hiding something'
At the resumption of the Senate hearing on the Bangladesh bank heist Internal Revenue Commissioner Kim Henares says PhilRem clearly violated tax regulations
Bank heist probe: Questions, contradictions hound PhilRem
Money transfer services of PhilRem were used in the 81 million money laundering scam keeping the stolen funds out of sight and out of reach
RCBC's Tan sues Deguito, seeks P32M in damages
RCBC president on leave Lorenzo Tan files charges against sacked branch manager Maia Santos Deguito over the Bangladesh Bank controversy
BSP: Banks bear 'ultimate responsibility' in avoiding dirty money
Amid the 81M heist probe the Bangko Sentral ng Pilipinas orders banks to take extra caution
Turnover of Bangladesh's missing millions will 'take a little time'
5 46 million may have been returned by Kim Wong but the money is still not with the Bangladesh government
Bangladesh envoy dismayed, witnesses stonewalled at 4th Senate probe
At the end of the fourth Senate probe Bangladesh Ambassador to the Philippines John Gomes expresses disappointment on the state of the returned 4 63 million and P38 28 million funds by casino junket agent Kim Wong
Osmeña: $17M unaccounted money seems to be with PhilRem
Senators catch the owners of money transfer firm PhilRem contradicting their earlier testimonies on their transactions linked to the Bangladesh Bank fund heist
AMLC to file case to seize entire $81M laundered money
Asked if the casinos will contest the civil forfeiture case lawyers of Solaire and Midas say they have yet to explain options to clients
Senators note inconsistency in PhilRem's $81-M bank heist story
The oath is to tell the truth not just the partial truth Every hearing you give a different story Senator Bam Aquino tells PhilRem owners
Not the first controversy for RCBC 'miracle man' Lorenzo V. Tan
UPDATED When he led the United Coconut Planters Bank the bank faced a civil case for padding the loan obligation of a client
AMLC to draft bill relaxing bank secrecy
But an Anti Money Laundering Council member says there may be no longer enough time to pass the bill under the Aquino administration
Italy cracks down on Philippine remittance agencies
UPDATED In December 2014 RCBC s remittance company in Italy faced a hefty fine of 74 445 10 for its failure to comply with the country’s stringent anti money laundering enforcement
DOF fears closure of remittance shops abroad amid $81M heist
A recruitment and migration expert says he was told by Task Force OFW in Italy that RCBC and BPI closed their remittance shops in Rome and Milan early 2016
Ex-RCBC branch head Deguito seeks week-long rest from Senate probe
Maia Santos Deguito may not be able to attend the third Senate hearing on the Bangladesh Bank fund heist on March 29
Senate to 'close chapter' on William Go at 3rd hearing on stolen funds
At the resumption of the probe into the Bangladesh bank heist the Senate blue ribbon committee plans to unravel more leads that will steer them to the real culprit
RCBC chief goes on leave amid Bangladesh bank heist probe
UPDATED In a public apology the Yuchengco led bank says it will address any weaknesses in its controls and operations which may have facilitated the scheme
How to safeguard the Philippines from dirty money
The Anti Money Laundering Council must fight dirty money but they need some help
AMLC sues businessmen linked to Bangladesh Bank fund heist
Kim Wong has been tagged by Senator Serge Osmeña as a possible major player in the elaborately planned heist while Weikang Xu is a Chinese casino junket operator whose account was allegedly used for the scam
Limited power restricts AMLC actions in Bangladesh Bank heist
With no power to directly order freezing of accounts the Anti Money Laundering Council was unable to act swiftly on Bangladesh Bank s request
