, 
FIFTEENTH CONGRESS OF THE) 
REPUBLIC OF THE PHILIPPINES) 
Second Regular Session 
) 
SENATE 
COMMITTEE REPORT NO, 
80 
-, 
.... ~2n;J {1:-' 
a~l!1fr of ih" '':'i ,'rd<lf~ 
'11 
NOV 14 P 6 :08 
Hh.,;·,':!1 !n~_ 
Submitted by the Committees on Banks, Financial I nstitutions and Currencies; 
JUstic1l0~nd 
H.vJlJ£ln 
Rights; 
and 
Public 
Order 
and 
Illegal 
Drugs 
on 
\ 4 Lilli 
' 
Re: Senate Bill No, __ 
3_0_0_9-'---_ 
Recommending its approval in substitution of Senate Bill Nos, 2484 and 2783 taking 
into consideration Proposed Senate Resolution Nos, 82 and 461 
Sponsors: Senator Osmel'ia III and "TG" GUingona III 
MR. PRESIDENT: 
The Committees on Banks, Financial Institutions and Currencies; Justice and 
Human Rights; and Public Order and Illegal Drugs to which were referred Senate Bill 
No, 2484, introduced by Senator Osmel'ia III, entitled: 
"AN ACT TO FURTHER STRENGTHEN THE ANTI-MONEY LAUNDERING LAW, 
AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 9160, OTHERWISE 
KNOWN AS THE 'ANTI-MONEY LAUNDERING ACT OF 2001,' AS AMENDED, 
AND FOR OTHER PURPOSES" 
and Senate Bill No, 2783, introduced by Senator Lacson, entitled: 
"AN ACT TO FURTHER STRENGTHEN REPUBLIC ACT NO. 9160, OTHERWISE 
KNOWN AS THE 'ANTI·MONEY LAUNDERNG ACT OF 2001.' AS AMENDED, 
AND FOR OTHER PURPOSES" 
taking into consideration Proposed Senate Resolution No, 82, introduced by Senator 
Defensor Santiago, entitled: 
"RESOLUTION DIRECTING THE PROPER SENATE COMMITTEE TO CONDUCT 
AN INQUIRY, IN AID OF LEGISLATION, ON POSSIBLE AMENDMENTS TO THE 
ANTI·MONEY 
LAUNDERING 
ACT FOR 
IT 
TO 
BE COMPLIANT WITH 
INTERNATIONAL STANDARDS" 


and Proposed Senate Resolution No. 461, introduced by Senator Villar, entitled: 
"RESOLUTION 
URGING 
THE 
COMMITTEES 
ON 
BANKS, 
FINANCIAL 
INSTITUTIONS AND CURRENCIES; PUBLIC ORDER AND DANGEROUS 
DRUGS; AND ECONOMIC AFFAIRS TO CONDUCT AN INQUIRY, IN AID OF 
LEGISLATION, 
ON 
THE 
REPORTED 
HIGH 
NUMBER 
OF 
CURRENCY 
TRANSACTIONS INVOLVING SIGNIFICANT AMOUNTS OF PROCEEDS FROM 
INTERNATIONAL 
NARCOTICS 
TRAFFICKING 
VIS-A-VIS 
THE 
IMPLEMENTATION OF ANTI-MONEY LAUNDERING ACT IN THE COUNTRY 
WITH 
THE 
INTENTION 
OF 
UPDATING 
THE 
RELEVANT 
LAWS 
AND 
PREVENTING THE CIRCULATION OF NARCOTICS MONEY" 
have considered the same and have the honor to report them tl,q<;k:..to the Senate 
with the recommendation that the attached bill, Senate Bill No. J U U 9 prepared 
by the Committees, entitled: 
"AN ACT TO FURTHER STRENGTHEN THE ANTI-MONEY LAUNDERING LAW, 
AMENDING FOR THE PURPOSE SECTIONS 10 AND 11 OF REPUBLIC ACT NO. 
9160, OTHERWISE KNOWN AS THE 'ANTI-MONEY LAUNDERING ACT OF 
2001,' AS AMENDED, AND FOR OTHER PURPOSES" 
be approved in substitution of Senate Bill Nos. 2484 and 2783 taking into 
consideration Proposed Senate Resolution Nos. 82 and 461 with Senators Osmena 
III, Lacson, Defensor Santiago, Villar, Guingona III, Escudero and Honasan II as 
authors thereof. 


Respectfully submitted: 
S~RG~~III 
Chair, Committee on Banks, Financial 
Institutions and Currencies 
Chair, Sub-
mittee on Anti-Money 
Laund [' g Law Amendments 
Vice Chair, Committee a 
anks, Financial Institutions and Currencies 
Vice Chair, Committee on Justice and Human Rights 
FRANCIS "CHIZ" G. ESCUDERO 
Chair, Committee on Justice and Human Rights 
Vice Chair, Committee on Banks, Financial 
Ins' u ions and Currencies 
REGORIO B. HONASAN II 
mittee on Public Order and I/Iegal Drugs 
~~'i~ 
MAN~R~~~J( 
Vice Chair, Com ittee on Public Order and II/egal Drugs 


Members: 
~~~--
SEN. ANTONIO "SONNY" F. TRILLANES IV 
A-1 \'~-~. Jli\ " 
AQUILINO "KOKO" PIMENTEL III 


Ex-Officio Members' 
~,~~~ 
~~~~~ 
G 
JERCITO ESTRADA 
VICENTE C. SOTTO III 
resident Pro-Temp:;u:a 
Majority Leader 
1~8~-4r~ 
ALAN PETER "COMPANERO" S. CAYETANO 
Minority Leader 
Han. JUAN PONCE ENRILE 
President 
Senate ofthe Philippines 
Pasay City 


FIFTEENTH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
Second Regular Session 
) 
) 
) 
SENATE 
S. No. 8009 
'II 
NOV 14 
::> 6 :07 
Prepared by the Committees on Banks, Financial Institutions and Currencies; Justice 
and Human Rights; and Public Order and fl/egal Drugs with Senators Osmena III, 
Lacson, Defensor Santiago, Villar, Guingona III, Escudero and Honasan /I as 
authors 
"AN ACT TO FURTHER STRENGTHEN THE ANTI-MONEY LAUNDERING LAW, 
AMENDING FOR THE PURPOSE SECTIONS 10 AND 11 OF REPUBLIC ACT NO. 
9160, OTHERWISE KNOWN AS THE 'ANTI-MONEY LAUNDERING ACT OF 
2001,' AS AMENDED, AND FOR OTHER PURPOSES" 
Be it enacted by the Senate and the House of Representatives of the Philippines in 
Congress assembled: 
1 
SECTION 1. Section 10 of Republic Act No. 9160, as amended, is hereby amended 
2 
to read as follows: 
3 
"Sec. 10. Freezing of Monetary Instrument or Property. -
[The 
4 
Court of Appeals,] upon application ex parte by the AMLC and 
5 
after determination that probable cause exists that any monetary 
6 
instrument or property is in any way related to an unlawful activity 
7 
as defined in Section 3(i) hereof, THE REGIONAL TRIAL COURT 
8 
EXERCISING JURISDICTION OVER THE TERRITORIAL AREA 
9 
WHERE THE MONETARY INSTRUMENT OR PROPERTY IS 
10 
LOCATED ANDIOR WHERE THE ALLEGED UNLAWFUL 
11 
ACTIVITY WAS COMMITTED may issue a freeze order, which 
12 
shall be effective immediately. The freeze order shall be for a 


-, 
1 
period of twenty (20) days unless extended by the court. IT MAY 
2 
ALSO BE FILED WITH THE COURT OF APPEALS OR WITH 
3 
THE SANDIGANBAYAN, WHETHER OR NOT THE SAME IS IN 
4 
AID OF THE COURT'S APPELATE JURISDICTION. IN ANY 
5 
CASE, THE COURT SHOULD ACT ON THE PETITION TO 
6 
FREEZE EITHER BEFORE THE END OF BUSINESS HOURS 
7 
OR WITHIN TWENTY-FOUR (24) HOURS FROM FILING OF 
8 
THE PETITION, WHICHEVER COMES FIRST. 
9 
NO COURT SHALL ISSUE A TEMPORARY RESTRAINING 
10 
ORDER OR A WRIT OF INJUNCTION AGAINST ANY FREEZE 
11 
ORDER, EXCEPT THE SUPREIVIE COURT. 
12 
SECTION 2. Section 11 of the same Act is hereby amended to 
13 
read as follows: 
14 
SEC. 11. Authority to Inquire into Bank Deposits. - Notwithstanding 
15 
provisions of Republic Act No. 1405, as amended, Republic Act No. 
16 
6462, as amended, Republic Act No. 8791, and other laws, the 
17 
AMLC may inquire into or examine any particular deposit or 
18 
investment, INCLUDING RELATED WEB OF ACCOUNTS, with 
19 
any banking institution or non-bank financial institution upon order 
20 
of any competent court BASED ON AN EX PARTE APPLICATION 
21 
in cases of violationS of this Act, when it has been established that 
22 
there is probable cause that the deposits or investments, 
23 
INCLUDING RELATED WEB OF ACCOUNTS involved, are 
24 
related to an [unlawful] activity as defined in Section 3(i) hereof or a 
25 
money laundering offense under Section 4 hereof; except that no 


1 
court order shall be required in cases involving activities defined in 
2 
Section 3(i)(1), (2) [and], (12), (13) AND (14) HEREOF. 
3 
To ensure compliance with this Act, the Sangko Sentral ng 
4 
Pilipinas (SSP) may inquire into or examine any deposit or 
5 
investment INCLUDING RELATED WEB OF ACCOUNTS with any 
6 
banking institution or non-bank financial institution when the 
7 
examination is made in the course of a periodic or special 
8 
examination, in accordance with the rules of examination of the 
9 
SSP. 
10 
FOR PURPOSES OF THIS SECTION, "RELATED WEB OF 
11 
ACCOUNTS" SHALL REFER TO ACCOUNTS, THE FUNDS AND 
12 
SOURCES OF WHICH ORIGINATED FROM ANDIOR ARE 
13 
MATERIALLY LINKED TO THE MONETARY INSTRUMENT(S) 
14 
OR PROPERTY(IES) SUBJECT OF THE FREEZE ORDER(S). 
15 
SECTION 3. Separability Clause. - If any provision [or section] of this Act or 
16 
the application thereof to any person or circumstance is held to be [invalid] VOID, 
17 
[the other provisions or sections of this Act, and the application of such provision or 
18 
section to other persons or circumstances,] 
OR UNCONSTITUTIONAL, ANY 
19 
OTHER PROVISION [shall not be] NOT affected thereby SHALL REMAIN IN FULL 
20 
FORCE AND EFFECT. 
21 
SECTION 4. Repealing Clause. - All laws, decrees, executive orders, rules 
22 
and regulations, or parts thereof [including the relevant provisions of Republic Act 
23 
No. 1405, as amended; Republic Act No. 6426, as amended; Republic Act No. 8791, 
24 
as amended and other similar laws,] as are inconsistent with this Act, are hereby 
25 
repealed, amended or modified accordingly. 


1 
SECTION 5. Effectivity. - This Act shall take effect fifteen (15) days after its 
2 
complete publication in the Official Gazette or in at least two (2) national newspapers 
3 
of general circulation. 
4 
Approved,