Duterte signs measure boosting Anti-Money Laundering Law

ABS-CBN News

<p>MANILA <strong>(UPDATE)</strong> — President Rodrigo Duterte on Friday signed a measure amending the Anti-Money Laundering Act (AMLA), in a bid to boost regulations on money laundering in the Philippines. </p><p>Republic Act No. 11521 is important, the President earlier said, as it aims to protect the integrity and confidentiality of bank accounts and to prevent money laundering in the country.</p><div><strong>FROM THE ARCHIVES</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/F4f0Biir230?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><p>Duterte in October last year sought for the speedy passage of counterpart bills House Bill No. 6174 and Senate Bill No. 1412 which would strengthen AMLA, and certified both as urgent. </p><p>Said bills aimed to comply with legal standards for anti-money laundering and counterterrorism financing that were established by international bodies.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/10/17/20/duterte-certifies-as-urgent-bills-boosting-anti-money-laundering-law-financial-resiliency-amid-covid-19-crisis">READ: Duterte certifies as urgent bills boosting anti-money laundering law, financial resiliency amid COVID-19 crisis</a></li></ul><p>The measure was also expanded to cover real estate developers and brokers, offshore gaming operators supervised, accredited, or regulated by the Philippine Amusement and Gaming Corporation (PAGCOR). </p><p>The AMLA is also applicable to transactions over P500,000 in a day, and even casino cash transactions of over P5 million.</p><p>Some provisions on tax crimes were also added and its proposed thresholds under the law. A section on information security and confidentiality, and on incentive system and rewards was also added. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/11/24/20/house-oks-on-2nd-reading-proposed-amendments-to-ph-anti-money-laundering-law">House OKs on 2nd reading proposed amendments to PH anti-money laundering law</a></li></ul><p>The measure also added the Anti-Money Laundering Council’s (AMLC) power to investigate all those that can be considered “suspicious transactions.” </p><p>AMLC was also tasked to create the law’s implementing rules and regulations within 90 days after the law’s date of effectivity or after its publication on the country’s Official Gazette or a newspaper in general circulation. <strong>— With reports from Joyce Balancio and Jamaine Punzalan, ABS-CBN News</strong></p>

<p>MANILA (UPDATED) — President Rodrigo Duterte on Friday signed a measure amending the Anti-Money Laundering Act (AMLA), in a bid to boost regulations on money laundering in the Philippines. </p>

MANILA (UPDATED) — President Rodrigo Duterte on Friday signed a measure amending the Anti-Money Laundering Act (AMLA), in a bid to boost regulations on money laundering in the Philippines.

Duterte signs measure boosting Anti-Money Laundering Law | ABS-CBN

Halalan 2025

Entertainment

News

Metro.Style

Sports

More

Traffic

Horoscope

News

Duterte signs measure boosting Anti-Money Laundering Law

Duterte signs measure boosting Anti-Money Laundering Law

ABS-CBN News

Published Jan 29, 2021 10:07 PM PHT

|

Updated Jan 29, 2021 10:28 PM PHT

Read More:

money laundering

anti-money laundering

Republic Act No. 11521

Anti-Money Laundering Act

Anti-Money Laundering Council

POGO

President Duterte

money

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.