AMLA

Republic Act No. 9160 otherwise known as The Anti-Money Laundering Act of 2001 (AMLA) is the Philippines’ primary anti-money laundering law. AMLA enables authorities to investigate money laundering and other financial crimes in order to protect financial institutions and deter criminals from using the Philippines as a money-laundering destination.

The Philippines, while striving to sustain economic development and poverty alleviation through, among others, corporate governance and public office transparency, must contribute its share and play a vital role in the global fight against money laundering. Hence, the compelling need to enact responsive anti-money laundering legislation in order to establish and strengthen an anti-money laundering regime in the country which will not only increase investor’s confidence but also ensure that the Philippines is not used as a site to launder proceeds of unlawful activities.