Академический Документы
Профессиональный Документы
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Emerson De Villa
RM Dadivas
Jaironn Navarro
Dindo Samarita
Jhumanuelle Dipalac
Darwin Contemprato
Sergio Balanay Jr.
Richard Biazon
Narciso Maccarubbo Jr.
Glenbrey Sabile
Introduction
Brief History
Steps In Money Laundering
Methods of Money Laundering
Money Laundering in the Philippines
Functions of AMLAC
Covered and Suspicious Transactions
predicate crimes in the AMLA
Prosecution under AMLA
International Agencies Against Money Laundering
money laundering is a crime whereby the proceeds of an
unlawful activity are transacted thereby making them appear to
have originated from legitimate sources
the method by which criminals disguise the illegal origins of
their wealth and protect their assets bases, so as to avoid the
suspicion of law enforcement agencies and prevent leaving a
trail of incriminating evidence.
Money obtained from certain crimes, such as extortion, insider
trading, drug trafficking, and illegal gambling is "dirty". It needs
to be cleaned to appear to have been derived from legal
activities so that banks and other financial institutions will deal
with it without suspicion. Money can be laundered by many
methods, which vary in complexity and sophistication
The concept of money laundering regulations goes back to ancient times
and is intertwined with the development of money and banking. Money
laundering is first seen with individuals hiding wealth from the state to
avoid taxation or confiscation or a combination of both.
In China, merchants around 2000 BCE would hide their wealth from rulers
who would simply take it from them and banish them. In addition to hiding
it, they would move it and invest it in businesses in remote provinces or
even outside China.
The term money laundering originated from Mafia ownership of
Laundromats in the United States.
The first use of the term money laundering was during the Watergate
Scandal 1973 in United States.
the money enters the financial system without being taxed
the money is the fruit of illegal activity, therefore an extension of the same crime
criminal elements become more comfortable conducting their activites knowing that
they have resources available
the financial system is manipulated and the factual, just management of national
economies is put in danger
PLACEMENT LAYERING INTEGRATION
introducing cash complex financial acquiring wealth
into the financial transactions to generated from
system by some camouflage the the transactions of
means illegal source of the illicit funds
the cash
The AMLAC can only pursue dirty money generated from specific crimes listed as
predicate crimes in the AMLA
July 2017 The House of Representatives has approved on third and final reading a
bill including casinos in the coverage of the Anti-Money Laundering Law
P5 million the threshold amount that would require casinos to report suspicious
transactions to the Anti-Money Laundering Council.
All entities that fall under the regulation and supervision of BSP, SE, and IC
BANKS
or property
Facilitating 4 to 7 years of imprisonment and a fine not less than 1.5 Million but not more than 3 Million
Failure to report 6 months to 4 years of imprisonment or a fine not less than 100,000 but not more than 500,000
failure to keep records 6 months to 4 years of imprisonment or a fine not less than 100,000 but not more than 500,000
malicious reporting 6 months to 4 years or a fine not less than 100,000 but not more than 500,000 or both the offender is not
breach of confidentiality 3 to 8 years and a fine of not less than 500,000 but no more than 1 million
incase prohibited information is reported by media the responsible reporter, writer, president, publisher,