Bill Type
Congress Name
Long Title
FULL TITLE : AN ACT DESIGNATING CASINO OPERATORS AS COVERED PERSONS UNDER REPUBLIC ACT NO. 9160, OTHERWISE KNOWN AS THE ‘ANTI-MONEY LAUNDERING ACT OF 2001", AS AMENDED
Text as filed (link)
Date filed
June 30, 2016
Scope
Legislative History
| House Bill/Resolution NO. HB00014 | |
| FULL TITLE : AN ACT DESIGNATING CASINO OPERATORS AS COVERED PERSONS UNDER REPUBLIC ACT NO. 9160, OTHERWISE KNOWN AS THE ‘ANTI-MONEY LAUNDERING ACT OF 2001", AS AMENDED | |
| SHORT TITLE : Casino Anti - Money Laundering / Combating The Financing Of Terrors ( A M L / C F T) Act | |
| ABSTRACT : Seeks to introduce the necessary amendments to the Anti-Money Laundering Act of 2001 (AMLA), as amended, to discourage the use of the casinos as avenues of illicit activity by mandating these to report covered and suspicious transactions to the Anti-Money Laundering Council (AMLAC) thereby providing for stricter customer identification requirements and records keeping system and prohibiting these casinos from engaging in any transaction involving the conversion of money from one form to another without being used for gaming. | |
| PRINCIPAL AUTHOR/S : BELMONTE, FELICIANO JR. | |
| DATE FILED : 2016-06-30 | |
| SIGNIFICANCE: NATIONAL | |
| NATURE : Reform | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Mercado (007 2016-08-08) | 2. Bataoil (009 2016-08-10) |
| 3. Abayon (021 2016-09-13) | 4. Primicias-Agabas (091 2017-05-17) |
| 5. Garbin (095 2017-05-29) | 6. Nieto (097 2017-05-31) |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITEE HEARINGS/ACTIONS: | |
| 1. Deliberated upon by the Mother Committee on 2017-01-31 | |
| 2. Deliberated upon by the Mother Committee on 2017-05-16 | |
| 3. Committee Report filed on 2017-05-17 | |
| MOTHER BILL: HB05663 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2016-07-26 |
Abstract
Seeks to introduce the necessary amendments to the Anti-Money Laundering Act of 2001 (AMLA), as amended, to discourage the use of the casinos as avenues of illicit activity by mandating these to report covered and suspicious transactions to the Anti-Money Laundering Council (AMLAC) thereby providing for stricter customer identification requirements and records keeping system and prohibiting these casinos from engaging in any transaction involving the conversion of money from one form to another without being used for gaming
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.