SRC

Rejection of securities: VRIF

AMLA

Covered Institutions in AMLC: BNQ TE

Covered Transactions: 500k, 1 day
Suspicious Transactions: IC JUA
Functions of AMLC; Excpt: RJ IMO; Excpt: HK-MAD

Deposit

Splitting of deposits: P500k, 2 accounts, 120days

Banking

What are banks? Lending

What are the elements determinative of a bank: ALA
Classifications of banks: UCTRCIO

Secrecy of Bank deposits

Q: What are the instances where examination or disclosure of information about deposits
can be allowed: WIOL ED HK MAD

Rejection of securities: VRIF

The issuer:
1. violation;
2. Requirement;
3. insolvent;
4. fraudulent;

Covered Institutions in AMLC: BNQ TE

1. banks;
2. Non-banks;
3. Quasi-banks;
4. trust entities;
5. Entities regulated by the BSP, SEC and Insurance Commission.

Covered Transactions: 500k, 1 day

1. Single transaction involving amount more than 500k in 1 banking day.

Suspicious Transactions: IC JUA

1. Client not identified;
2. Client has no financial capability
3. No economic or legal justification.
4. Unlawful activities defined by law
5. Analogous transactions

Functions of AMLC: RJ IMO; Excpt: HK-MAD

1. Receive and require reports.
2. Institute judicial actions;
3. Investigate suspicious transactions;
4. Impalement measures in connection with money-laundering;
5. To inquire into bank deposits/investments upon order of the court.
Except: Kidnapping, high jacking, drug, arson and murder.

Splitting of deposits: P500k, 2 accounts, 120days

Depositor's deposit account exceeds P500k and broken down and transferred into 2 or more
accounts who have no beneficial ownership within 120 days immediately preceding or during a
bankdeclared bank holiday, or immediately preceding a closure order by the Monetary Board of
the BSP for the purpose of availing of the maximum deposit insurance coverage.

Q: What are banks?

A: Entities engaged in the lending of funds obtained through deposits from public.

Q: What are the elements determinative of a bank? ALA

1. Must be authorized by law;
2. Lends money to the public; and
3. Accepts fund, in the form of a deposit, from the public.

Classifications of banks: UCTRCIO

1. Universal
2. Commercial
3. Thrift
4. Rural
5. Cooperative
6. Islamic
7. Other classifications

Q: What are the instances where examination or disclosure of information about deposits
can be allowed: WIOL ED HK MAD
1. Written consent;
2. Impeachment;
3. Order of the court: Bribery, dereliction of duty of POfficials, Graft cases,

4. Deposits subject of litigation

5. Order of CIR to determine the decedent's gross estates or in case of taxpayer's declaration of
incapability to pay tax.
6. Dormant accounts for 10 years under Uncalaimed Balance Act.
7. By the AMLC when deposited money is proceeds of: HK-MAD
a. High jacking,
b. Kidnapping,
c. Murder,
d. Destructive arson or
e. Violation of drugs law.