At the core of its operations are two key types of transaction reports: the Covered Transaction Reports (CTRs) and Suspicious Transaction Reports (STRS). These reports provide the foundation for the AMLC's intelligence work and are critical to the detection of potential money laundering and terrorism financing activities.
CTRs are filed to monitor large transactions that are possibly linked to money laundering or other illicit activities. CTRs are typically filed when a financial transaction exceeds P500,000.
It also refers to a transaction involving jewelry dealers that is above P1 million or a cash transaction with real estate developers exceeding P7.5 million.
On the other hand, STRs are more complex. These are flagged when financial institutions detect transactions that may seem irregular or unusual.
These transactions do not necessarily involve large sums but may be indicative of attempts to obscure unlawful activities.
Both CTRs and STRs are submitted electronically by covered persons – typically banks, financial institutions, or other regulated entities – through the AMLC’s File Transfer and Reporting Facility.
Denne historien er fra September 17, 2024-utgaven av The Philippine Star.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 17, 2024-utgaven av The Philippine Star.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
P500-M rice imports stalled in Port of Manila
Half a billion pesos worth of rice is sitting at the Port of Manila, waiting to be picked up by their importers, making the government worry that this may cause an artificial increase in consumer prices.
Lawmakers to Sara: Oath a commitment to honesty
Administration lawmakers are reminding Vice President Sara Duterte that her refusal to take her oath when she appeared Wednesday before a committee of the House of Representatives would ultimately boomerang on her credibility and integrity as an elected public official.
Maritime bo open to leasing foreign ships for WPS
The National Maritime Council (NMC) is open to a proposal to lease ships from other countries to shore up the Philippines' presence in the West Philippine Sea as the country grapples with an increasingly aggressive China.
US keeps mid-range missile system in Phl
Typhon cruise missiles capable of striking
Guo cited in contempt, detained by House panel
The House quad committee yesterday cited in contempt dismissed Bamban mayor Alice Guo for making a fool out of the lawmakers when she told them that no Filipino public official helped her escape.
PNP has leads on where Roque is hiding
Police already have leads on where former presidential spokesman Harry Roque is hiding.
Monsoon to continue bringing rains
The Philippines will continue experiencing rains brought by the southwest monsoon following the recent exit of two tropical cyclones, according to the state weather bureau.
Tulfo brothers lead OCTA'S Senate poll
Two brothers of Sen.Raffy Tulfo are leading the latest Senate preference poll conducted by the OCTA Research group.
Summit tackles AI integration in military operations
The Philippines reinforced its commitment to equitable access and rules-based governance in integrating artificial intelligence (AI) into military operations.
2025 special polls, plebiscites suspended
To focus all resources on the conduct of the May 2025 midterm elections, the Commission on Elections (Comelec) has suspended all special polls and plebiscites until next year.