Strengthening Anti-Money Laundering Law

AMLC has the authority to inquire into or examine deposits or investments, including related accounts, upon order of a competent court based on an ex parte application.
This inquiry applies in cases of suspected violations of the Anti-Money Laundering Act (AMLA) and requires probable cause linking deposits or accounts to unlawful activities or money laundering offenses.
No court order is necessary for inquiries involving certain serious crimes including specific offenses under Section 3(i)(1), (2), and (12), and terrorism-related crimes under Republic Act No. 9372.
The Court of Appeals must act on the application within twenty-four (24) hours from filing.
The Bangko Sentral ng Pilipinas may verify the compliance of covered institutions with AMLA during routine or special examinations.
"Related accounts" refer to accounts materially linked to or originating from the frozen monetary instruments or properties.
Ex parte court orders are required before AMLC can inquire into related accounts.
The inquiry must comply with constitutional protections under Article III, Sections 2 and 3 of the 1987 Philippine Constitution.

If any provision or application of the Act is found void or unconstitutional, other unaffected provisions remain valid and enforceable.

All inconsistent laws, decrees, executive orders, rules, or regulations are repealed, amended, or modified accordingly.
Penal provisions do not apply retroactively to acts committed before the Anti-Money Laundering Act took effect on October 17, 2001.

The Act takes effect fifteen (15) days after its complete publication in the Official Gazette or in at least two national newspapers of general circulation.