Anti-Money Laundering Council (AMLC) Resolution No. 61, Series of 2016

BANCXO SENTRaL NG PIuIpINns OFFICE OF THE DEPUTY GOVERNOR SUPERVIS]ON AND EXAMINATION SECTOR crRcuLAR LETTER NO. Cr-2016-_065_ To: All BSP-Supervised Financial Institutions Subject : Anti-Money Laundering Council (AMLCI Resolution No. G1, Series of 20t6 Please be informed that the AMLC, in its Resolution No. 61 dated 20 July 2016 (copy attached), resolved the following: 1. Reinstate the five (5) - working day reporting period for covered and suspicious transactions thereby superseding Resolution No. 11, series of 2014. In the case of suspicious transactions, the five working day period shall be reckoned from the determination of the suspicious nature of the transaction, which determination should be made not exceeding ten (10) calendar days from date of transaction. However, if the transaction is in any way related to, or the person transacting is involved in or connected to, an unlawful activity under Section 3 (i)1 or 42 of RA No. 9160, as amended, the 10-day period for determination shall be reckoned from the date the covered person knew of, or should have known, under the circumstances, the suspicious indicator. 2. Give all covered persons a lead time of sixty (60) calendar days from the date of the Resolution to have their AML electronic system aligned with the requirement of the S-working day reporting period. For guidance and strict compliance. ;;-A.I;ffi Deputy Governoi L1 nty zorc Att.: A/S 1 Unlawful activities under Anti-Money Laundering Act (AMtA), as amended 2 Money laundering offense under AMLA, as amended

Republic of the Philippines ML. Anti-Money Luandering Council Bangko Sentral ng Pilipinas Complex Manila, Philippines RESOTUTTON NO. qL Series of 2015 Pursuant to Section 9.c of Republic Act No. 9L6O, as amended, or the Anti- Money Laundering Act of IOOL, the Councll issued an 24 February 2014 Resolution No. 11 prescribing a ten-working day period for covered persons to file with the AMLC covered and suspicious transadion reports from occurrence of such transactions. Considering the urgency of bringing to the attention of the AMLC suspicious transactions particularly those involving huge amounts and of public interest, which warrant immediate investigation by the AMLC Secretariat, the five (S)-working day reporting period for covered and suspicious transactlons as provided under Republic Act No. 10365 should be reinstated. In the case of suspicious transactions, the five-working day period shall be reckoned from the determination of the suspicious nature of the transaction, which determination should be made not exceeding ten (10) calendar days from date of transaction. However, if the transaction is in any way related to, or the person transacting is involved in <lr connected to, an unlaMul activity under Section 3 (i) or 4 (money laundering) of R.A. No. 9L60, as amended, the 10-day period for determination shall be reckoned from the date the covered person knew of, or should have known, under the circumstances, the suspicious indicator. The Council resolved to: t. Reinstate the five (S)-working day reporting period for covered and surspicious transactions thereby superseding Resolution No. 11, Series of 20t4; 2. Give all covered persons a lead time of sixty (60) calendar days from date of this Resolution to have their AML electronic system aligned wlth the requirement of the S-working day reporting period; and Certili€d Truc Crpy of Reords on Flle q'M'tq ul, nxr,r sflrod.MENDozA AMLC S6rct.ty 2l lulv 2016

j I 3. Request the Bangko Senffal ng Pilipinas, the Securities and Exchange Commission, the lnsurance Commission, and the relevant Supervising Authorities to disseminate copies of this Resolution to all covered persons under their respective jurisdictions. -4.-{gff_ 2016, Ma nila, Phili ppines. I /hfr\A--- AMANDg M. TETANGCO, JR. / chairman (Governor, Bangko Sentral ng Pilipinas) 4 .A .- ./ '--,- TERESITM. HERBOSA EMMANUEL F. Member (Chairperson, Securities and Exchange Commission) (Commissioner, Insura ncdCommission) Cerdn€d True Copy of R<ords on File MA. RHEA WA tANTdS.MENDozA AMLC Sdrct.ry 2r lily 2016