GROUP 1

ANTI-MONEY LAUNDERING ACT

QUESTIONNAIRES

 A transaction in cash or other combination thereof involving or

equivalent monetary instrument having direct relation to the
exceeding Five Hundred following except:
Thousand pesos (Php500,000.00) a) Swindling
b) Smuggling
a) Covered transaction c) Hijacking
b) Suspicious transaction d) None of the above
c) Monetary Transaction
d) AMLA
 Coins or currency of legal tender
of the Philippines, or of any other
 Refers to the financial intelligence country
unit of the Republic of the
Philippines which is the a) Monetary Instrument
government agency tasked to b) Mutual Fund
implement the AMLA. c) Cost and expenses
d) Currency
a) “Anti-Money Laundering
Council” (AMLC)
b) “Anti-Money Laundering Act”  Any person who, with malice, or
(AMLA) in bad faith, reports or files a
c) EITHER A OR B completely unwarranted or false
d) BOTH A AND B information relative to money
laundering transaction against
any person shall be subject to a
 Refers to any natural or juridical penalty of six (6) months to four
person (4) years imprisonment and a fine
of not less than One Hundred
a) PERSON Thousand Philippine Pesos
b) OFFENDER (PHP100, 000.00) but not more
c) THE EXECUTIVE DIRECTOR than Five Hundred Thousand
d) TRUSTEE, NOMINEE AND AGENT Philippine Pesos (PHP500, 000.00),
ACCOUNTS at the discretion of the court:
Provided, That the offender is not
entitled to avail the benefits of
 Refers to any person who the Probation Law.
commits a money laundering
offense. a) Penalties for Malicious
Reporting
a) OFFENDER b) Penalties for Breach of
b) PERSON confidentiality
c) ANTI MONEY LAUNDERING c) Administrative sanctions
COUNCIL d) Cost and expenses
d) SUPERVICING AUTHORITY

 These Rules shall take effect

 'UNLAWFUL ACTIVITY' refers to fifteen (15) days after complete
any act or omission or series or publication in the Official Gazette
 GROUP 1
ANTI-MONEY LAUNDERING ACT
QUESTIONNAIRES

or in a newspaper of general
circulation. a) SEC. 2. Declaration of Policy.
b) SEC. 4. Money Laundering
a) Separability Clause Offense.
b) Effectivity c) SEC. 5. Jurisdiction of Money
c) Budget Laundering Cases.
d) Repealing clause d) SEC. 6. Prosecution of Money
Laundering.

 Refers to the Bangko Sentral ng

Pilipinas (BSP), the Securities and  “Anti-Money Laundering Act”
Exchange Commission (SEC), the (AMLA) refers to
Insurance Commission (IC), or the
relevant regulatory bodies of the a) Republic Act No. 9161, as
Designated Non-Financial amended by Republic Act Nos.
Businesses and Professions 9194, 10167 and 10365.
enumerated under Rule 3.E.4, or b) Republic Act No. 9163, as
other government agencies amended by Republic Act Nos.
designated by Law. 9194, 10167 and 10365.
c) Republic Act No. 9160, as
a) Anti-Money Laundering Act amended by Republic Act Nos.
b) Person 9194, 10167 and 10365.
c) Supervising Authority d) Republic Act No. 9165, as
d) Anti-Money Laundering Council amended by Republic Act Nos.
9194, 10167 and 10365.

 Refers to any act establishing any

right or obligation, or giving rise  AMLA Rules shall take effect __
to any contractual or legal days after complete publication in
relationship between the parties the Official Gazette or in a
thereto. It also includes any newspaper of general circulation.
movement of funds by any means
with a covered person. a) Five (5)
b) Ten (10)
a) SUPERVISING AUTHORITY c) Fifteen (15)
b) MONETARY INSTRUMENT d) Twenty (20)
c) TRANSACTION
d) PERSON
 Which of the following is not
minimum information/documents
 The regional trial courts shall that shall be obtained from
have jurisdiction to try all cases individual customers?
on money laundering. Those
committed by public officers and a) Name
private persons who are in b) Nationality
conspiracy with such public c) Contact numbers
officers shall be under the d) Source of strength
jurisdiction of the Sandiganbayan.
 GROUP 1
ANTI-MONEY LAUNDERING ACT
QUESTIONNAIRES

 What act is aimed at the

 “Malversation of Public Funds and providing stronger surveillance
Property” is under ______ powers, strengthening criminial
laws against terrorism, and
a) Articles 217 and 222 of the combating money laundering?
Revised Penal Code
b) Articles 217 and 222 of the a) Ofac
Penal Code b) Bsa
c) Articles 222 and 217 of the c) Identity theft act
Revised Penal Code d) Usa patriot act
d) Articles 222 and 217 of the  Launderers might attempt a
Penal Code series of small currency
transactions over time because

 What unlawful activity is under a) Wiring money to a foreign

Republic Act No. 7080? country
b) Larger amounts are too risky to
a) Kidnapping for Ransom carry around
b) Plunder c) Thats how launderers take in the
c) Swindling funds
d) Hijacking d) A provision of the bank secrecy
act requires the filing of a ctr
for transactions exceeding
 The patriot act does not require $10,000
which of the following as part of
an appropriate aml program?
 It refers to activities of one bank
a) Appointment of compliance having direct connection or
officer written friendly service relations with
b) Policies and procedures another bank.
c) Independent review of the
program a) Wire/Fund Transfers.
d) Mandatory drug screening b) Correspondent Banking
c) Politically Exposed Persons
d) Unusual or suspicious patterns
 Employee training programs of account activity
should :

a) Include all existing and new  It includes such facts and

employees circumstances which would lead a
b) Be ongoing and updated to reasonably discreet, prudent or
include new changes in the law cautious man to believe that an
and industry unlawful activity and/or a money
c) Be documented and confirmed by laundering offense is about to be.
appropriate testing
d) All of the above a) Probable cause
b) Supervising Authority
c) Budget
 GROUP 1
ANTI-MONEY LAUNDERING ACT
QUESTIONNAIRES

d) Repealing clause

 It refers to any society,

association or corporation,
without capital stock, formed or
organized not for profit but
mainly for the purpose of paying
sick benefits to members, or of
furnishing financial support to
members while out of
employment.

a) Mutual Benefit Association

b) Insurance broker
c) Professional reinsurer
d) Insurance agent

 It includes any person,

partnership, association or
corporation that transacts solely
and exclusively reinsurance
business in the Philippines,
whether domestic, domestically
incorporated or a branch of a
foreign entity.

a) Professional reinsurer
b) Reinsurance broker
c) Insurance broker
d) Insurance agent