MORNBFI Vol. 1 - Planters Development Bank

APP. Q-2508.12.31(o) “Property” includes any thing oritem of value, real or personal, tangible orintangible, or any interest therein or anybenefit, privilege, claim or right withrespect thereto.Rule 3.b. Covered transaction is atransaction in cash or other equivalentmonetary instrument involving a totalamount in excess of PhP500,000.00 withinone (1) banking day.Rule 3.b.1. Suspicious transactions aretransactions, regardless of amount, whereany of the following circumstances exists:(1) There is no underlying legal or tradeobligation, 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 act;(5) Any circumstance relating to thetransaction which is observed to deviatefrom the profile of the client and/or theclient’s past transactions with the coveredinstitution;(6) The transaction is in any way relatedto an unlawful activity or any moneylaundering activity or offense under this actthat is about to be, is being or has beencommitted; or(7) Any transaction that is similar,analogous or identical to any of theforegoing.Rule 3.c. 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.Rule 3.d. Offender refers to any personwho commits a money launderingoffense.Rule 3.e. Person refers to any natural orjuridical person.Rule 3.f. Proceeds refers to an amountderived or realized from an unlawfulactivity. It includes:(1) All material results, profits, effectsand any amount realized from anyunlawful activity;(2) All monetary, financial oreconomic means, devices, documents,papers or things used in or having anyrelation to any unlawful activity; and(3) All moneys, expenditures,payments, disbursements, costs, outlays,charges, accounts, refunds and othersimilar items for the financing, operations,and maintenance of any unlawful activity.Rule 3.g. Supervising authority refers tothe BSP, the SEC and the IC. Where theBSP, SEC or IC supervision applies onlyto the registration of the coveredinstitution, the BSP, the SEC or the IC,within the limits of the AMLA, shall havethe authority to require and ask assistancefrom the government agency havingregulatory power and/or licensing authorityover said covered institution for theimplementation and enforcement of theAMLA and these Rules.Q RegulationsAppendix Q-25 - Page 4Manual of Regulations for Non-Bank Financial Institutions