Covered and suspicious transaction reporting framework is one of the cornerstones of the Philippines' anti-money laundering/counter-terrorism financing (AML/ CTF) regime.
Covered Persons, as the first line of defense against money laundering/ terrorism financing (ML/ TF), are mandated to report all covered and suspicious transactions to the Anti-Money Laundering Council (AMLC).
The reports should be complete, accurate, and timely as they provide vital information for the effective identification and detection of financial crime patterns and trends through financial analysis. The results of analysis on these reports are essential in the investigation and prosecution of civil forfeiture, money laundering/ terrorism financing (ML/TF) and other related cases, as well as in assessing institutional, sectoral, and national ML/TF risks.
Enroll and learn everything you need to know in this training to avoid costly penalties up to P500,000 per violation and the revocation of your AMLC certification!