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(NAR) VOL. 12 NO. 1 / JANUARY - MARCH 2001
[ BSP CIRCULAR LETTER, January 15, 2001 ]
INCLUSION OF ALL OFFSHORE BANKING UNITS IN THE COVERAGE OF THE ANTI-LAUNDERING RULES AND REGULATIONS
The Monetary Board, in its Resolution No. 2189 dated 21 December 2000, confirmed the inclusion of all Offshore Banking Units (OBUs) in the coverage of all the existing anti-money laundering rules and regulations as well as those which may hereafter be issued, including the penalties prescribed for EKBs/KBs.
OBUs are hereby required to comply with and submit within thirty (30) banking days from date hereof all the requirements of existing regulations.
For your guidance.
Adopted: 15 Jan. 2001
(SGD.) ALBERTO V. REYES
Deputy Governor
OBUs are hereby required to comply with and submit within thirty (30) banking days from date hereof all the requirements of existing regulations.
For your guidance.
Adopted: 15 Jan. 2001
(SGD.) ALBERTO V. REYES
Deputy Governor