[LE2] - AMLA, PDIC RECALL
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6 Terms
What are the functions of the PDIC?
What are the unlawful activities under AMLA that do not require a court order from CA for bank inquiry?
Kidnapping for ransom
Dangerous drugs
Highjacking, destructive arson, murder
Foreign crimes similar to (a)(b)(c)
ATA 2020
Terrorism financing
How long is the immediate effect of the freeze order?
Intially, 20 days and extendable up to 6 months (inclusive of 20 days)
What are the thresholds for covered transactions?
Any transaction in cash or equivalent monetary instrument | P500,000 |
Jewelry dealers, dealers in precious metals and dealers in precious stones | P1,000,000 |
Casino | P5,000,000 |
Real estate developers or brokers | P7,500,000 |
What is the composition of the AMLC?
BSP Governer (chairman)
SEC Chairperson
IC Commissioner
Note 
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