Anti–Money Laundering Council
The Anti–Money Laundering Council is the agency of the government of the Philippines that is tasked to implement the provisions of Republic Act No. 9160, also known as the Anti–Money Laundering Act of 2001, as amended, and Republic Act No. 10168, also known as the Terrorism Financing Prevention and Suppression Act of 2012.
It serves as the Philippines' central anti–money laundering/counter-terrorism financing authority. As such, it functions as the AML/CTF regulator and supervisor, financial intelligence unit, and primary law enforcement agency of the Philippines against money laundering and terrorist financing.
The AMLC may refer to the government agency or the Council, which heads the said government agency.
Mandate
The AMLC is mandated to implement the AMLA and TFPSA, in accordance with the following State policies:AMLA
- To protect and preserve the integrity of the Philippine financial system, including the confidentiality of bank accounts.
- To ensure that the Philippines shall not be used as a money laundering site for the proceeds of any unlawful activity.
- To extend cooperation, consistent with Philippines’ foreign policy, in transnational investigations and prosecutions of persons involved in money laundering activities wherever committed.
TFPSA
- To protect life, liberty and property from acts of terrorism and to condemn terrorism and those who support and finance it; and to recognize it as inimical and dangerous to national security and the welfare of the people; and to make the financing of terrorism a crime against the Filipino people, against humanity and against the law of nations.
- To recognize and to adhere to international commitments to combat the financing of terrorism, specifically to the International Convention for the Suppression of the Financing of Terrorism, as well as other binding terrorism related resolutions of the United Nations Security Council, pursuant to Chapter 7 of the United Nations Charter.
- To reinforce the fight against terrorism by preventing and suppressing the commission of said offenses through freezing and forfeiture of property or funds while protecting human rights.
The council
The council is composed of the governor of the Bangko Sentral ng Pilipinas as chairman, and the commissioner of the Insurance Commission(Philippines) and the chairperson of the Securities and Exchange Commission as members. It acts unanimously in the discharge of its functions.Historical composition
2001–2004:- Rafael Buenaventura
- Lilia R. Bautista
- Eduardo T. Malinis
- Rafael Carlos B. Buenaventura
- Fe B. Barin
- Eduardo T. Malinis
- Amando Tetangco, Jr.
- Fe B. Barin
- Benjamin S. Santos
- Amando M. Tetangco, Jr.
- Fe B. Barin
- Evangeline C. Escobillo
- Amando M. Tetangco, Jr.
- Fe B. Barin
- Eduardo T. Malinis
- Amando M. Tetangco, Jr.
- Fe B. Barin
- Santiago J. Ranada
- Amando M. Tetangco, Jr.
- Fe B. Barin
- Emmanuel F. Dooc
- Amando M. Tetangco, Jr.
- Teresita J. Herbosa
- Emmanuel F. Dooc
- Amando M. Tetangco, Jr.
- Teresita J. Herbosa
- Dennis B. Funa
- Nestor Espenilla, Jr.
- Teresita J. Herbosa
- Dennis B. Funa
- Nestor A. Espenilla, Jr.
- Emilio Aquino
- Dennis B. Funa
- Benjamin Diokno
- Emilio B. Aquino
- Dennis B. Funa
- Felipe Medalla
- Emilio B. Aquino
- Dennis B. Funa
- Felipe Medalla
- Emilio B. Aquino
- Reynaldo A. Regalado
- Eli M. Remolona, Jr.
- Francis Edralin Lim
- Reynaldo A. Regalado
Executive directors
Rule 6, Section 2 of the 2018 Implementing Rules and Regulations, in relation to Section 8 of Republic Act No. 9160, as amended, states that the executive director shall be the chief executive officer of the AMLC. The following are the past and present executive directors of the AMLC:- Judge Pio C. Guerrero
- Atty. Vicente S. Aquino
- Atty. Julia C. Bacay-Abad
- Atty. Mel Georgie B. Racela
- Atty. Matthew M. David