CIRCULAR LETTER, January 02, 2001

[ CIRCULAR LETTER, January 02, 2001 ]

REQUIRED REPORTS BY BANKS OF SUSPICIOUS TRANSACTIONS

In view of the creation of a special committee that shall take charge of the evaluation and investigation, as well as the maintenance of the database, of suspicious transactions reported by banks and non-bank financial institutions (NBFIs) in accordance with Circular No. 253 dated 31 July 2000, banks and NBFIs are hereby required to submit directly to said Committee, through its Chairman, Atty. Melpin A. Gonzaga, Office of the General Counsel and Legal Services, the required reports under Section 1 of said Circular No. 253.

This Circular-Letter shall take effect immediately.

Adopted: 2 Jan. 2001

(SGD.) ALBERTO V. REYES Deputy Governor