MORNBFI Vol. 1 - Planters Development Bank

§ 4803Q11.12.31result of which he facilitates the offense ofmoney laundering referred to in paragraph“(1)” above; and(3) Any person knowing that anymonetary instrument or property is requiredunder the act to be disclosed and filed withthe Anti-Money Laundering Council, fails todo so.(B) Covered transaction (CT) - is atransaction in cash or other equivalentmonetary instrument involving a totalamount in excess of P500,000 within one(1) banking day.(C) Suspicious transactions (ST) - aretransactions with covered institutions,regardless of the amount involved, whereany of the following circumstances exist:1. There is no underlying legal ortrade obligation, purpose or economicjustification;2. The client is not properly identified;3. The amount involved is notcommensurate with the business orfinancial capacity of the client;4. Taking into account all knowncircumstances, it may be perceived that theclient’s transaction is structured in order toavoid being the subject of reportingrequirements under the AMLA, as amended;5. Any circumstance relating to thetransaction which is observed to deviatefrom the profile of the client and/or client’spast transactions with the coveredinstitutions;6. The transaction is in any wayrelated to an unlawful activity or anymoney laundering activity or offenseunder the AMLA as amended, that isabout to be, is being or has beencommitted; or7. Any transaction that is similar oranalogous to any of the foregoing.(D) Monetary instrument refers to:(1) Coins or currency of legal tender ofthe Philippines, or of any other country.(2) Drafts, checks and notes;(3) Securities or negotiable instruments,bonds, commercial papers, depositcertificates, trust certificates, custodialreceipts or deposit substitute instruments,trading orders, transaction tickets andconfirmations of sale or investments andmoney market instruments;(4) Contracts or policies of insurance,life or non-life, and contracts of suretyship;and(5) Other similar instruments wheretitle thereto passes to another byendorsement assignment or delivery.(E) Transaction - refers to any actestablishing any right or obligation orgiving rise to any contractual or legalrelationship between the parties thereto. Italso includes any movement of funds by anymeans with a covered institution.(F) Unlawful activity - refers to any actor omission or series or combination thereofinvolving or having direct relation to thefollowing:(1) Kidnapping for ransom underArticle 267 of Act No. 3815, otherwiseknown as the Revised Penal Code (RPC),as amended;(2) Sections 4, 5, 6, 8, 9, 10, 12, 13,14, 15 and 16 of R.A. No. 9165, otherwiseknown as the Comprehensive DangerousDrug Act of 2002;(3) Section 3 paragraphs “B”, “C”, “E”,“G”, “H” and “I” of R.A. No. 3019, asamended, otherwise known as theAnti-Graft and Corrupt Practices Act;(4) Plunder under R.A. No. 7080, asamended;(5) Robbery and extortion underArticles 294, 295, 296, 299, 300, 301 and302 of the RPC, as amended;(6) Jueteng and Masiao punished asillegal gambling under P.D. No. 1602;(7) Piracy on the high seas under theRPC as amended and P.D. No. 532;(8) Qualified theft under Article 315 ofthe RPC, as amended;Q RegulationsPart VIII - Page 2Manual of Regulations for Non-Bank Financial Institutions