An Act Further Strengthening the Anti-Money Laundering Council, Amending for the Purpose Republic Act No. 9160, Otherwise Known as 'the Anti-Money Laundering Act of 2001', as Amended
The bill expands the Anti‑Money Laundering Council’s powers, adds more businesses (like virtual‑asset platforms, trusts, casinos and online gambling sites) to its oversight, lets it suspend suspicious transactions and issue subpoenas without a court, and raises penalties for violations.
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
Printed from CivicSync PH: https://civicsync-ph-gamma.vercel.app/bills/SBN-1557. Status changes over time; check the link for the latest.
SBN-1557 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.