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(NAR) VOL. 25 NO. 1 / JANUARY - MARCH 2014
[ BSP MEMORANDUM NO. M-2013-051, November 18, 2013 ]
REGISTRATION OF NSSLAS, PAWNSHOPS, FXDS, MCS AND RAS WITH THE ANTI-MONEY LAUNDERING COUNCIL (AMLC) FOR REPORTING PURPOSES
In order to facilitate reporting to the AMLC, CIs need to register with the AMLC for username, password and institution code assignment as required by Section X807.4 of the said Circular. AMLC registration procedures for CIs are shown in the AMLC website at http://www.amlc.gov.ph (downloads tab).
Section X811 of the same Circular provides that violation of the Rules shall constitute a major violation subject to the following enforcement actions against the Board of Directors, Senior Management and line officers, not necessarily according to priority: (1) written reprimand; (2) suspension or removal from the office they are currently holding; and/or (3) disqualification from holding any position in any Covered Institution (CI).
For compliance.
(SGD) NESTOR A. ESPENILLA, JR.
Deputy Governor