EIGHTEENTH CONGRESS OF THE 
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REPUBLIC OF THE PHILIPPINES 
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Second Regular Session 
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SENATE
s. No. 194R
■ Ou'Tt •; ill: S5c',• 'ii.’iji
20 DEC-9 P2 '03
RECtiVCDcV;
Prepared by the Committee on Banks, Financial Institutions and Currencies joint with 
the Committee on Justice and Human Rights with Senators Poe and Marcos
as authors
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AN ACT
TO FURTHER STRENGTHEN THE ANTI-MONEY LAUNDERING LAW, 
AMENDING FOR THE PURPOSE SECTIONS 3, 7,10,12 AND 20 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:
Section 1. Section 3 (a) pf Republic Act No. 9160, as amended, is hereby further 
amended, to read as follows:
"(a) "Covered persons", natural or juridical refer to:
(1) XXX 
XXX
(8) casinos, including internet and ship-based casinos, with respect to 
their casino cash transactions related to their gaming operations, AND
OFFSHORE GAMING OPERATORS, AS WELL AS THEIR SERVICE 
PROVIDERS;
"(9) REAL ESTATE DEVELOPERS AND BROKERS;
XXX


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Sec 2. Section 3(b) of Republic Act No. 9160, as amended, is hereby further 
amended to read as follows:
"(b) "Covered transaction" is a transaction in cash or other equivalent monetary 
instrument involving a total amount in excess of Five Hundred Thousand Pesos 
(P500,000.00) within one (1) banking day; for covered persons under Section 
3(a)(8), a single casino cash transaction involving an amount in excess of Five 
Million Pesos (P5,000,000.00) or its equivalent in any other currency; FOR 
COVERED PERSONS UNDER SECTION 3(A)(9), A SINGLE CASH 
TRANSACTION INVOLVING AN AMOUNT IN EXCESS OF FIVE MILLION 
PESOS (PHP5/000,000.00) OR ITS EQUIVALENT IN ANY OTHER’ 
CURRENCY.
Sec. 3. Section 3 (i) of Republic Act No. 9160, as amended, is hereby further
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XXX
"(i) 'Unlawful activity' refers to any act or omission or series or combination 
thereof involving or having direct relation to the following:
(1) XXX
XXX
(33) Fraudulent practices and other violations under Republic Act No. 
8799, otherwise known as the Securities Regulation Code of 2000; 
[and]
(34) VIOLATION OF SECTION 19 (A)(3) OF REPUBLIC ACT NO. 
10697, OTHERWISE KNOWN AS THE STRATEGIC TRADE 
MANAGEMENT ACT, IN RELATION TO THE PROLIFERATION OF


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WEAPONS OF MASS DESTRUCTION AND ITS FINANCING 
PURSUANT TO UNITED NATIONS SECURITY COUNCIL 
RESOLUTION NUMBERS 1718 OF 2006 AND 2231 OF 2015;
(35) VIOLATIONS OF SECTION 254, 255, 264, 264-A, AND 264-;
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B OF CHAPTER II, TITLE X OF THE NATIONAL INTERNAL
REVENUE CODE OF 1997, AS AMENDED, WHERE THE BASIC TAX
DUE IN THE FINAL ASSESSMENT IS IN EXCESS OF FIFTY
MILLION PESOS (P50,000,000.00) PER TAXABLE YEAR, FOR
EACH TAX TYPE COVERED AND THERE HAS BEEN A FINDING OF. 
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PROBABLE CAUSE BY THE COMPETENT AUTHORITY; PROVIDED 
FURTHER, THAT THERE MUST BE A FINDING OF FRAUD, 
WILLFUL MISREPRESENTATION OR MALICIOUS INTENT ON 
THE PART OF THE TAX PAYER; PROVIDED FINALLY, THAT IN NO 
CASE SHALL THE AMLC INSTITUTE FORFEITURE PROCEEDINGS 
TO RECOVER MONETARY INSTRUMENTS, PROPERTY OR 
PROCEEDS REPRESENTING, INVOLVING, OR RELATING TO A # 
TAX CRIME, IF THE SAME HAS ALREADY BEEN RECOVERED OR 
COLLECTED BY THE BUREAU OF INTERNAL REVENUE (BIR) IN 
A SEPARATE PROCEEDING"; AND
[(34)] (36) Felonies and offenses of a similar nature that are punishable 
under the penal laws of other countries."
Sec. 4. Section 3 (I) of Republic Act No. 9160, as amended, is hereby further
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"(I) For purposes of covered persons under Section 3(a)(8), the following terms
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are hereby defined as follows:
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XXX
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"(4) 'OFFSHORE GAMING OPERATOR' REFERS TO AN ENTITY 
ENGAGED IN OFFERING ONLINE GAMES OF CHANCE OR 
SPORTING EVENTS VIA THE INTERNET USING A NETWORK AND 
SOFTWARE PROGRAM, BY THEMSELVES OR THROUGH LOCAL 
SERVICE PROVIDERS.
(5) 'SERVICE PROVIDERS' REFER TO DULY CONSTITUTED 
BUSINESS CORPORATIONS WHO PROVIDE COMPONENTS OF 
OFFSHORE GAMING OPERATIONS TO OFFSHORE GAMING 
OPERATORS."
Sec. 5. Section 3 of Republic Act No. 9160, as amended, is hereby further
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amended by inserting new paragraphs (m), (n), (o), and (p) as follows:
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"(a) 'Covered persons', natural or juridical, refer to:
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XXX
(M) "PROLIFERATION FINANCING" REFERS WHEN A PERSON:
(1) MAKES AVAILABLE AN ASSET; OR
(2) PROVIDES A FINANCIAL SERVICE; OR
(3) CONDUCTS A FINANCIAL TRANSACTION; AND THE PERSON
KNOWS THAT, OR IS RECKLESS AS TO WHETHER, THE ASSET,
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FINANCIAL SERVICE OR FINANCIAL TRANSACTION IS 
INTENDED TO, IN WHOLE OR IN PART, FACILITATE 
PROLIFERATION OF WEAPONS OF MASS DESTRUCTION IN


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RELATION TO UN SECURITY COUNCIL RESOLUTION NUMBERS 
1718 OF 2006 AND 2231 OF 2015;
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(N) 'REAL ESTATE DEVELOPER' REFERS TO ANY NATURAL OR 
JURIDICAL PERSON ENGAGED IN THE BUSINESS OF DEVELOPING 
REAL ESTATE DEVELOPMENT PROJECT FOR HIS/HER OR ITS OWN 
ACCOUNT AND OFFERING THEM FOR SALE OR LEASE;
(O) 'REAL ESTATE BROKER'. REFERS TO A DULY REGISTERED AND
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LICENSED NATURAL PERSON WHO, FOR A PROFESSIONAL FEE, 
COMMISSION OR OTHER VALUABLE CONSIDERATION, ACTS AS AN 
AGENT OF A PARTY IN A REAL ESTATE TRANSACTION TO OFFER, 
ADVERTISE, SOLICIT, LIST, PROMOTE, MEDIATE, NEGOTIATE OR 
EFFECT THE MEETING OF THE MINDS ON THE SALE, PURCHASE, 
EXCHANGE, MORTGAGE, LEASE OR JOINT VENTURE, OR OTHER
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SIMILAR TRANSACTIONS ON REAL ESTATE OR ANY INTEREST 
THEREIN;• »
(P) 'TARGETED FINANCIAL SANCTIONS' REFER TO BOTH ASSET
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FREEZING AND PROHIBITION TO PREVENT FUNDS OR OTHER 
ASSETS FROM BEING MADE AVAILABLE, DIRECTLY OR INDIRECTLY, 
FOR THE BENEFIT OF ANY INDIVIDUAL, NATURAL OR LEGAL 
PERSONS OR ENTITY DESIGNATED IN RELATION TO PROLIFERATION 
OF WEAPONS OF MASS DESTRUCTIONS AND ITS FINANCING 
PURSUANT TO UNITED NATIONS SECURITY COUNCIL RESOLUTION 
NUMBERS 1718 OF 2006 AND 2231 OF 2015;


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Sec. 6. Section 7 of Republic Act No. 9160, as amended, is hereby further 
amended to read as follows:
"SEC. 7. Creation of Anti-Money Laundering Council (AMLC). - The Anti- Money 
Laundering Council is hereby created and shall be composed of the Governor 
of the Bangko Sentral ng Pilipinas as Chairman, the Commissioner of the ’ 
Insurance Commission and the Chairman of the Securities and Exchange 
Commission, as members: The AMLC shall act unanimously in the discharge of 
its functions as defined hereunder:
"(1) to require [and], receive AND ANALYZE covered or suspicious 
transactions reports from covered persons;
XXX
"(5) to investigate suspicious transactions and covered transactions 
deemed suspicious after [an investigation by] DETERMINATION by 
AMLC, money laundering activities, and other violations of this Act;
XXX
"(12) to require the Land Registration Authority and all its Registries of. 
Deeds to submit to the AMLC, reports on all real estate transactions 
involving an amount in excess of [Five hundred thousand pesos 
(P500,000.00)] FIVE MILLION PESOS (P5,000,000.00) within 
fifteen (15) days from the date of registration of the transaction, in a 
form to be prescribed by the AMLC. The AMLC may also require the Land 
Registration Authority and all its Registries of Deeds to submit copies of 
relevant documents of all real estate transactions;"


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"(13) TO IMPLEMENT TARGETED FINANCIAL SANCTIONS IN 
RELATION TO PROLIFERATION OF WEAPONS OF MASS ' 
DESTRUCTIONS AND ITS FINANCING, INCLUDING EX PARTE *.
FREEZE, WITHOUT DELAY, AGAINST ALL FUNDS AND OTHER 
ASSETS THAT ARE OWNED AND CONTROLLED, DIRECTLY OR 
INDIRECTLY, INCLUDING FUNDS AND ASSETS DERIVED OR 
GENERATED THEREFROM, BY INDIVIDUALS OR ENTITIES 
DESIGNATED AND LISTED UNDER UNITED NATIONS SECURITY 
COUNCIL RESOLUTION NUMBERS 1718 OF 2006 AND 2231 OF 
2015 AND THEIR SUCCESSOR RESOLUTIONS AS WELL AS ANY 
BINDING RESOLUTION OF THE SECURITY COUNCIL."
"(14) TO PRESERVE, MANAGE OR DISPOSE ASSETS SUBJECT OF 
A FREEZE ORDER, ASSET PRESERVATION ORDER, AND 
JUDGMENT OF FORFEITURE: PROVIDED, HOWEVER, THAT 
PENDING THEIR TURN OVER TO THE NATIONAL GOVERNMENT,
ALL EXPENSES INCURRED IN RELATION TO THE DUTIES 
HEREIN MENTIONED SHALL BE DEDUCTED FROM THE AMOUNT 
TO BE TURNED OVER TO THE NATIONAL GOVERNMENT."
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"(15) TO DEPUTIZE, TO ENLIST THE ASSISTANCE OF, AND/OR 
DIRECT ANY BRANCH, DEPARTMENT, BUREAU, OFFICE, 
AGENCY OR INSTRUMENTALITY OF THE GOVERNMENT, 
INCLUDING GOVERNMENT-OWNED AND -CONTROLLED 
CORPORATIONS, IN UNDERTAKING ANY AND ALL ANTI­
MONEY LAUNDERING OPERATIONS, WHICH MAY INCLUDE THE


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USE OF ITS PERSONNEL, FACILITIES AND RESOURCES FOR THE : 
MORE RESOLUTE PREVENTION, DETECTION AND 
INVESTIGATION OF MONEY LAUNDERING OFFENSES AND 
PROSECUTION OF OFFENDER."
"(16) TO APPLY FOR A SEARCH WARRANT FROM PROPER 
COURTS; AND"
"(17) TO TIMELY OBTAIN INFORMATION ON ULTIMATE
BENEFICIAL OWNERSHIP AND CONTROL FROM ANY
GOVERNMENT AGENCY AND COVERED PERSON, FOR
PURPOSES OF ENSURING THAT ONLY 'FIT AND PROPER' HAS
CONTROL OVER COVERED PERSONS."
Sec. 7. Section 10 of Republic Act No. 9160, as amended, is hereby further
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amended to read as follows:
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"Section 10. Freezing of Mqnetary Instrument or Property. - Upon a verified ex
parte petition by the AMLC and after determination that probable cause exists
that any monetary instrument or property is in any way related to an unlawful .
activity as defined in Section 3(i) hereof, the Court of Appeals may issue a
freeze order which shall be effective immediately, for a period of twenty (20)
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days. Within the twenty (20)-day period, the Court of Appeals shall conduct a 
summary hearing, with notice to the parties, to determine whether or not to 
modify or lift the freeze order, or extend its effectivity. The total period of the 
freeze order issued by the Court of Appeals under this provision shall not exceed 
six (6) months. This is without prejudice to an asset preservation order that the 
Regional Trial Court having jurisdiction over the appropriate anti-money
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laundering case or civil forfeiture case may issue on the same account 
depending on the circumstances of the case, where the Court of Appeals will 
remand the case and its records; Provided, That if there is no case filed against 
a person whose account has been frozen within the period determined by the 
Court of Appeals, not exceeding six (6) .months, the freeze order shall be 
deemed ipso facto lifted; Provided, further. That this new rule shall not apply 
to pending cases in the courts. In any case, the court should act on the petition 
to freeze within twenty-four (24) hours from filing of the petition. If the 
application is filed a day before a nonworking day, the computation of the 
twenty-four (24)-hour period shall exclude the nonworking days.
The freeze order or asset preservation-order issued under this Act shall be
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limited only to the amount of cash or monetary instrument or value of property 
that court finds there is probable cause to be considered as proceeds of a 
predicate offense, and the freeze order or asset preservation order shall not 
apply to amounts in the same account in excess of the amount or value of the 
proceeds of the predicate offense.
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A person whose account has been frozen may file a motion to lift the freeze
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order and the court must resolve this motion before the expiration of the freeze 
order. No court shall issue a temporary restraining order or a writ of injunction 
against any freeze order, except the Supreme Court.
FOR PURPOSES OF IMPLEMENTING TARGETED FINANCIAL 
SANCTIONS IN RELATION TO PROLIFERATION OF WEAPONS OF 
MASS DESTRUCTION AND ITS FINANCING, AS PROVIDED UNDER 
SECTION 6(13), THE AMLC SHALL HAVE THE POWER TO ISSUE, EX


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PARTE, AN ORDER TO FREEZE WITHOUT DELAY. THE FREEZE ORDER 
SHALL BE EFFECTIVE UNTIL THE BASIS FOR ITS ISSUANCE SHALL 
HAVE BEEN LIFTED. DURINQ THE EFFECTIVITY OF THE FREEZE 
ORDER, THE AGGRIEVED PARTY MAY, WITHIN TWENTY (20) DAYS 
FROM ISSUANCE, FILE WITH THE COURT OF APPEALS A PETITION TO 
DETERMINE THE BASIS OF THE FREEZE ORDER ACCORDING TO THE 
PRINCIPLE OF EFFECTIVE JUDICIAL PROTECTION: PROVIDED, THAT 
THE PERSON WHOSE PROPERTY OR FUNDS HAVE BEEN FROZEN MAY 
WITHDRAW SUCH SUMS AS THE. AMLC DETERMINES TO BE 
REASONABLY NEEDED FOR MONTHLY FAMILY NEEDS AND 
SUSTENANCE INCLUDING THE SERVICES OF COUNSEL AND THE 
FAMILY MEDICAL NEEDS OF SUCH PERSON.
THE AMLC, IF CIRCUMSTANCES WARRANTS, MAY INITIATE A CIVIL
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FORFEITURE PROCEEDINGS TO PRESERVE THE ASSETS AND TO 
PROTECT IT FROM DISSIPATION. NO COURT SHALL ISSUE A 
TEMPORARY RESTRAINING ORDER OR A WRIT OF INJUNCTION 
AGAINST THE FREEZE ORDER, EXCEPT THE COURT OF APPEALS OR 
THE SUPREME COURT."
Sec. 8. Section 12 of Republic Act No, 9160, as amended, is hereby further
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amended to read as follows:
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(a) Civil Forfeiture. - xxx
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(b) Claim on Forfeited Assets. - xxx
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(c) Payment in Lieu of Forfeiture, -xxx
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(D) NO COURT SHALL ISSUE A TEMPORARY RESTRAINING ORDER
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(TRO) OR A WRIT OF INJUNCTION AGAINST ANY PROVISIONAL
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ASSET PRESERVATION ORDER OR ASSET PRESERVATION ORDER,
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EXCEPT THE COURT OF APPEALS OR THE SUPREME COURT."
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Sec. 9. Section 20 of Republic Act No. 9160, as amended, is hereby deleted.
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[SECTION 20. Non-intervention in the Bureau of Internal Revenue (BIR) Operations.
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- Nothing contained in this Act nor in related antecedent laws or existing agreements
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shall be construed to allow the AMLC to participate in any manner in the operations
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of the BIR."]
Sec. 10. Implementing Rules and Regulations. - The AMLC shall within ninety
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(90) days from the effectivity of this Act issue the necessary rules and regulations.
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Sec. 11. Separability Clause. - If any provision or section of this Act is held to
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be unconstitutional or invalid, the other provisions or sections hereof, which are not
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affected thereby shall continue to be in full force and effect.
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Sec. 12. Repealing Clause. - All provisions of existing laws, orders, rules and
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regulations, or parts thereof which are in conflict or inconsistent with the provisions
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of this Act are hereby repealed, amended or modified accordingly; Provided, that all
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provisions of Republic Act No. 9160, as amended, which are not inconsistent with this
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Act are hereby adopted.
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Sec. 13. Effectivity. - This Act shall take effect immediately after the completion
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of its publication in the Official Gazette or in a newspaper of general circulation. 
Approved,
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