Jan Paolo S. Vila is a business manager, resource speaker, and part-time professor. The document discusses money laundering, defining it as transactions meant to make proceeds from unlawful activities appear legitimate. Money laundering allows criminals to benefit from crimes, corrupts financial institutions, and threatens national security and government integrity. The Anti-Money Laundering Act of 2001 criminalized money laundering in the Philippines. Financial institutions are advised to establish risk management systems, conduct due diligence on customers, and protect their reputation by enhancing know-your-customer standards.

1. Jan Paolo S. Vila, MBA, CFP
Business Manager, Security Bank Corporation
Resource Speaker
Youth Adviser - Parish Youth Ministry, CTKP
Part-time Professor

3. R.A. No. 10365
OLD DEFINITION
Is a crime whereby the proceeds of an unlawful
activity are transacted, thereby making them appear
to have originated from legitimate sources
NEW DEFINITION (Sec.4)
Is committed by any person knowing that any
monetary instrument or property represents, involve,
or relates to the proceeds of any unlawful activity.

4. Money laundering allows criminals to
preserve and enjoy the proceeds of their
crimes
Corrupts financial institutions
Poses a threat to national security
Destroys the integrity of government

8. 1. Absence of Legislation
2. Evasion of tax
3. Increase in Profits
4. To Make Black Money appear to
become White Money
5. Limited Risk of Exposure

9. 1. Increase Criminal Activities
2. Concentration of Power to
Criminals
3. Undermines Democracy

10. Republic Act No. 9160, otherwise known
as the Anti-Money Laundering Act of 2001
(AMLA), as amended, defined money
laundering as a scheme whereby proceeds
of an unlawful activity are transacted or
attempted to be transacted, thereby making
them appear to have originated from
legitimate sources.

11. Have Appropriate Risk Management Systems
Take reasonable measures to establish the source
of wealth and source of funds;
They should pay special attention to all complex
unusual large transactions
Enhance KYC standards
Establishment of customer profiling and
assessment of high risk accounts

12. “Protect the reputation and integrity of the
banking system from becoming a vehicle/conduit
for or a victim of financial crime by enhancing
KYC standards through a risk-based and tiered
customer identification process and establish
customer profiling assessment”