Anti-Money Laundering Council (AMLC) Resolution No. 11 dated 20 February 2008

CIRCULAR LETTER NO. CL-2008-013

To            :   All Banks and Non-Bank Financial Institutions Under BSP Supervision

Subject    : Anti-Money Laundering Council (AMLC) Resolution No. 11 dated 20 February 2008

Pursuant to Anti-Money Laundering Council Resolution No. 11 dated 20 February 2008, you are hereby informed that on 16 January 2008, the 1267 UN Security Council Committee approved the addition of the names of Hamid Al-Ali, Jaber Al-Jalamah and Mubarak Mushakhas Sanad Al-Bathali to the consolidated list of entities and individuals associated with the Al-Qaida, the Taliban or Usama bin Ladin subject to UN Security Council-mandated sanctions for their being associated with terrorists.

Under the same resolution, all covered institutions are required to submit within five (5) working days from receipt of copy of said resolution, reports of covered or suspicious transaction, if any, involving  Hamid Al-Ali, Jaber Al-Jalamah and Mubarak Mushakhas Sanad Al-Bathali or by persons acting on their behalf.

In accordance with Sections 7 and 9 of the Anti-Money Laundering Act (AMLA) of 2001, as amended, and Rule 9.3 of the Revised Implementing Rules and Regulations, you are hereby directed to submit directly to the AMLC reports of covered and suspicious transaction, if any, involving the above named individuals.

For your guidance and strict implementation.

NESTOR A. ESPENILLA, JR. Deputy Governor

Att: A/S