AMLA - AI TEST BANK

Perplexity

Which new predicate offense was added under RA 11521 with specific threshold requirements?

A) Environmental crimes exceeding ₱50M damage

B) Tax evasion with deficiency exceeding ₱25M per taxable year

C) Cybercrime involving ₱100M stolen funds

D) Customs fraud exceeding ₱75M

B) Tax evasion with deficiency exceeding ₱25M per taxable year

A real estate broker facilitates a single cash transaction of ₱8.2M for a condominium unit. This constitutes:

A) Mandatory reporting as covered transaction

B) Suspicious transaction regardless of amount

C) Exempt transaction under PAGCOR rules

D) Requires STR but not CTR filing

A) Mandatory reporting as covered transaction

Which entity is now expressly prohibited from obtaining TROs against AMLC asset preservation orders?

A) Regional Trial Courts

B) Court of Tax Appeals

C) Ombudsman's Office

D) Presidential Anti-Corruption Commission

A) Regional Trial Courts

The AMLC's new authority under 2021 amendments includes:

A) Direct prosecution of tax evasion cases

B) Issuing subpoena duces tecum without court approval

C) Freezing assets for 120 days without hearing

D) Operating BIR audit teams

B) Issuing subpoena duces tecum without court approval

When coordinating with BIR, the AMLC may directly:

A) Assess tax liabilities

B) Conduct joint raids on businesses

C) Investigate Section 254 NIRC violations

D) Modify VAT registration

C) Investigate Section 254 NIRC violations

6. A freeze order issued for terrorism financing takes immediate effect for:

A) 10 days

B) 20 days

C) 30 days

D) 60 days

B) 20 days

Initial: 20 days

Extension: 6 months max.

7. Which entity was NOT added as covered person under 2021 amendments?

A) Offshore gaming service providers

B) Virtual currency exchangers

C) Real estate developers

D) PAGCOR-regulated operators

B) Virtual currency exchangers

A casino receives ₱4.9M cash deposit from a PEP. Required report:

A) CTR within 5 working days

B) STR immediately

C) Both CTR and STR

D) No reporting required

B) STR immediately

While the amount is below the ₱5 million threshold for covered transactions in casinos, transactions involving politically exposed persons (PEPs) that are suspicious must be reported as suspicious transactions (STRs) regardless of amount

Which combination constitutes predicate offenses under the current AMLA?

1. Large-scale gambling operations

2. ₱30M tax evasion per tax type

3. ₱18M copyright infringement

4. Human trafficking of 3 persons

A) 1 & 2 only

B) 2 & 4 only

C) 1, 3 & 4

D) All of the above

A) 1 & 2 only

Illegal gambling and tax evasion (with the required threshold) are predicate offenses under the AMLA. Human trafficking is also a predicate offense, but the number of victims is not specified in the law. Copyright infringement is not a predicate offense.

10. Targeted Financial Sanctions apply to:

A) Proliferation financing only

B) Terrorism and WMD financing

C) Narcotics trafficking proceeds

D) All predicate offenses

B) Terrorism and WMD financing

A bank manager discloses AMLC's ongoing investigation to the subject client. This constitutes:

A) Protected whistleblowing

B) Criminal breach of confidentiality

C) Ethical obligation

D) Permissible under Data Privacy Act

B) Criminal breach of confidentiality

12. An OFW remits ₱15M cash through multiple pawnshops. The BEST course of action is:

A) File CTR for each ₱500K transaction

B) Report as suspicious transaction

C) Notify NBI for possible human trafficking

D) No action required - remittances are exempt

B) Report as suspicious transaction

Structuring or "smurfing" to avoid reporting thresholds is a red flag for money laundering. Even if each transaction is below the covered threshold, the pattern is suspicious and must be reported as an STR

13. A real estate company receives ₱6M check + ₱2M cash for property sale. Required to report?

A) Yes - total exceeds ₱7.5M threshold

B) No - cash component below ₱7.5M

C) Yes - check transactions are always reportable

D) No - only pure cash transactions count

A) Yes - total exceeds ₱7.5M threshold

14. Failure to report covered transactions by casinos may result in:

A) ₱5M fine + license revocation

B) ₱100K fine per violation

C) ₱1M fine + imprisonment

D) Mandatory AMLC supervision

B) ₱100K fine per violation

Covers juridical persons (like corporations) held liable when their employees or officers commit money laundering in their official capacity.

Violation of AMLC's confidentiality provisions carries:

A) 3-8 years imprisonment + ₱500K-1M fine

B) 6-12 years imprisonment + ₱5-10M fine

C) Permanent disqualification from banking

D) Administrative sanctions only

A) 3-8 years imprisonment + ₱500K-1M fine