Regulatory Alerts2024-04-22
BSP Circular CL-2024-____: AMLC Resolutions TF-86, TF-87, and TF-88 on Targeted Financial Sanctions
The Bangko Sentral ng Pilipinas disseminates Anti-Money Laundering Council resolutions imposing immediate Sanctions Freeze Orders on the Communist Party of the Philippines, Elizabeth Pineda Principe, and Islamic State of East Asia. All BSP-supervised financial institutions are mandated to freeze assets owned or controlled by these designated entities and submit written returns and suspicious transaction reports within five days. Compliance is strictly enforced under the Terrorism Financing Prevention and Suppression Act, with violations subject to full legal prosecution.
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