Practice question
A licensed covered casino handles one casino cash transaction of exactly PHP5 million. No suspicious indicator or other relevant transaction exists. Does the amount alone exceed RA 10927's special threshold?
- Yes; exactly equal always means in excess.
- Yes; the real-estate threshold must be substituted.
- No; because licensed casinos are never covered persons.
- No; the special covered threshold is in excess of PHP5 million.
- Yes; every casino transaction is automatically a conviction.
Legal references
- RA 9194, Sections 1-2 and 6, AMLA transaction definitions and Section 9(c) safe harbor: https://lawphil.net/statutes/repacts/ra2003/ra_9194_2003.html
- RA 10927, casino coverage and casino covered-transaction threshold: https://lawphil.net/statutes/repacts/ra2017/ra_10927_2017.html
- RA 11521, amended covered-person and covered-transaction provisions: https://lawphil.net/statutes/repacts/ra2021/ra_11521_2021.html
- RA 12312, Sections 8 and 17, Anti-POGO Act AMLA amendment: https://lawphil.net/statutes/repacts/ra2025/ra_12312_2025.html
Answer this question in flashcards to review your response and continue practicing.