Both the AMLC and PAGCOR appreciate the necessity of close coordination to accomplish the objectives of the Anti-Money Laundering Act of 2001, as amended, and the Terrorism Financing Prevention and Suppression Act of 2012, thus promoting confidence in the integrity of the Philippine financial system.
With the policy of the State to ensure that the Philippines shall not be used as a money laundering and terrorism financing site, the AMLC, as the Philippines’ hybrid financial intelligence unit (FIU), is mandated to receive and analyze suspicious transaction reports; investigate money laundering and terrorism financing; and cause the filing of forfeiture proceedings and cases.