Scope of Regulations - These regulations shall apply to all covered institutions supervised and regulated by the BSP. Declaration of Policy - The BSP adopts the policy of the State to protect the integrity and confidentiality of bank accounts and to ensure that the Philippines in general and the covered institutions herein described in particular shall not be used respectively as a money laundering site and conduit for the proceeds of an unlawful activity as hereto defined. 1801 dated 16 December 2010, approved the adoption of this Updated Anti-Money Laundering Rules and Regulations and the amendment of Part Eight of the Manual of Regulations as well as the repeal of other BSP Circulars that are inconsistent herewith. 9194 (AMLA, as amended), under Rule 17.1 (b) of the Revised Implementing Rules and Regulations (RIRR), the Monetary Board, in its Resolution No. 9160, otherwise known as the "Anti-Money Laundering Act of 2001", as amended by Republic Act No.
Subject: Updated Anti-Money Laundering Rules and Regulationsīy the authority vested to the Bangko Sentral ng Pilipinas (BSP) to issue guidelines and circulars on anti-money laundering (AML) in order to effectively implement the provisions of Republic Act No.
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