INCLUSION OF ALL OFFSHORE BANKING UNITS IN THE COVERAGE OF THE ANTI-LAUNDERING RULES AND REGULATIONS
National Administrative Register December 21, 2000 [ BSP CIRCULAR LETTER, January 15, 2001 ]
The Monetary Board, in its Resolution No. 2189 dated 21 December 2000, confirmed the inclusion of all Offshore Banking Units (OBUs) in the coverage of all the existing anti-money laundering rules and regulations as well as those which may hereafter be issued, including the penalties prescribed for EKBs/KBs.
OBUs are hereby required to comply with and submit within thirty (30) banking days from date hereof all the requirements of existing regulations.
For your guidance.
Adopted: 15 Jan. 2001
(SGD.) ALBERTO V. REYES
Deputy Governor