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Anti-Money Laundering Act (2001)

SEC. 2. Declaration of Policy. – It is hereby declared the policy of the State to protect and preserve the integrity and confidentiality of bank accounts and to ensure that the Philippines shall not be used as a money laundering site for the proceeds of any unlawful activity. Consistent with its foreign policy, the State shall extend cooperation in transnational investigations and prosecutions of persons involved in money laundering activities wherever committed.

The Act contains 23 sections, as follows:

  1. Short Title
  2. Declaration of Policy
  3. Definitions
  4. Money Laundering Offense
  5. Jurisdiction of Money Laundering Cases
  6. Prosecution of Money Laundering
  7. Creation of Anti-Money Laundering Council (AMLC)
  8. Creation of a Secretariat
  9. Prevention of Money Laundering; Customer Identification Requirements and Record Keeping
  10. Authority to Freeze
  11. Authority to Inquire into Bank Deposits
  12. Forfeiture Provisions.
  13. Mutual Assistance among States
  14. Penal Provisions
  15. System of Incentives and Rewards.
  16. Prohibitions Against Political Harassment
  17. Restitution
  18. Implementing Rules and Regulations
  19. Congressional Oversight Committee
  20. Appropriations Clause
  21. Separability Clause
  22. Repealing Clause
  23. Effectivity

Philippines-Anti-Money Laundering Act-2001-eng (full text in English, PDF)

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