Anti-Money Laundering Council (AMLC) Regulatory Issuance (ARI) No. 5 - Enforcement Action Guidelines

OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR 046 CIRCULAR LETTER NO. CL-2020-___ To : All BSP-Supervised Financial Institutions Subject : Anti-Money Laundering Council (AMLC) Regulatory Issuance (ARI) No. 5 - Enforcement Action Guidelines The AMLC, in its Resolution No. 98 dated 19 August 2020, approved ARI No. 5, Series of 2020 (copy attached) adopting the Enforcement Action Guidelines. This is intended for use by the AMLC as Anti-Money Laundering/Countering Terrorism Financing (AML/CTF) supervisor, pursuant to the 2018 Implementing Rules and Regulations, as amended. The Guidelines supplement the Rules of Procedure in Administrative Cases (RPAC) of the AMLC by providing procedures for the early resolution of administrative cases at the level of the Compliance and Supervision Group (CSG) prior to the filing of a Formal Charge under the RPAC. Hence, the procedures therein are separate and distinct from the proceedings outlined in the RPAC. Further, the Guidelines do not preclude the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission and the Insurance Commission from imposing their own enforcement actions and sanctions for AML/CTF violations or weaknesses. For information and guidance. Digitally signed by Chuchi G. Fonacier Date: 2020.10.01 13:01:01 +08'00' CHUCHI G. FONACIER Deputy Governor Att.: A/S 01 October 2020 A. Mabini St., Malate 1004 Manila, Philippines • (632) 7087701 • www.bsp.gov.ph • [email protected]