Anti-Money Laundering Council(AMLCS)

April 19, 2023 Dear Ms. Pasacsac, Greetings! Thank you for your request dated Mar 22, 2023 02:03:27 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch. The request pertains to the issuance of a Certificate of Registration with the Anti-Money Laundering Council (AMLC). In view of the information you provided, that the purpose of the opening of a bank account is for personal use and that you are an employee of Robinsons Land Corporation, we inform that pursuant to Rule 4, Section 1(b)(6) of the 2018 Implementing Rules and Regulations (IRR) of Republic Act No. 9160, otherwise known as The Anti-Money Laundering Act of 2001, as amended (AMLA), in relation to Section 3(a)(9) of the AMLA, real estate brokers and developers are considered as covered persons engaged in real estate businesses. Under Rule 4, Section 3.2 and Rule 22, Section 4 of the 2018 IRR of the AMLA, all covered persons are required to register with the AMLC. Hence, if you are a licensed real estate broker, you are classified as a Designated Non-Financial Business and Profession (DNFBP), and, as such, you are required to register with the AMLC. Under the 2018 IRR, this requirement is mandatory notwithstanding the purpose for opening a bank account, as the 2018 IRR did not qualify the requirement. The AMLC Provisional Certificate of Registration (PCOR) may be obtained by registering at the AMLC Portal at https://portal.amlc.gov.ph/amlc/ and uploading the following documents pursuant to Part 2 (Online Registration) of the 2021 AMLC Registration and Reporting Guidelines (ARRG) and Section 49 of the 2021 Anti-Money Laundering/Counter-Terrorism Financing Guidelines for DNFBPs: (a) Proof of designation of the Compliance Officer (CO), Associated Persons (APs), or Primary Designated Officers (PDOs); (b) Most recent Articles of Incorporation and General Information Sheet from the Securities and Exchange Commission (SEC), Certificate of Registration from the Department of Trade and Industry (DTI); or proof of registration with the Cooperative Development Authority (CDA); Real Estate Brokers’ Certificate of Registration or License from the Professional Regulation Commission (PRC); (c) Notarized Deeds of Undertaking of the entity, signed by the proprietor/partners/president/directors; and (d) Notarized Board Resolution or Certificate of Designation as Compliance Officer. After registration, a PCOR will be provided, which may be presented to covered persons such as banks, in compliance with the latter’s customer due diligence measures prescribed under the 2018 IRR of the AMLA. However, it should be noted that the PCOR shall be valid only for a period of six (6) months, and the DNFBP shall be issued a Certificate of Registration (COR) only upon submission of the following requirements under Section 50 of the DNFBP Guidelines: (a) Copy of business registration or permit from the city or municipality currently having jurisdiction over the place of establishment and operation of the office; (b) List of operating office locations; (c) Proof of attendance of the proprietor, partners, directors and principal officers in an AML seminar; and (d) Most recent Clearance from the National Bureau of Investigation (NBI) or its equivalent in a foreign jurisdiction, of all directors and principal officers. The step-by-step registration procedure is laid down under Part 2 (Online Registration) of the 2021 ARRG. Should assistance be needed at any stage of the process, or for any registration-related query the Data Collection and Management Unit of the AMLC may be reached through Telephone Nos. (632) 87087067, (632) 53020- 3948, or (632) 5310-3244, or Cellphone Nos. 09157780720 and 09687727045. You may likewise visit our website at http://www.amlc.gov.ph/ for updates regarding the matter. On the other hand, if you are not a licensed real estate broker, although you are an employee of Robinsons Land Corporation, you are not required to register with the AMLC. Thus, we suggest clarifying with your bank that you are not a licensed real estate broker and that the AMLA only requires the PCOR for licensed real estate broker to avoid further confusion. We hope we have been of assistance. Respectfully, FOI Decision Maker