Practice question
What is the general covered-transaction amount under AMLA, apart from special sector rules?
- More than P500,000 in cash or equivalent monetary instrument within one banking day
- Every transaction of one peso
- Exactly P4 million over five days under the current general rule
- Only transactions with a convicted customer
- Only transfers after a court order
Legal references
- RA 11521 Section 2, amending AMLA Section 3(b)-(b-1): https://lawphil.net/statutes/repacts/ra2021/ra_11521_2021.html
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