A content analysis of Philippines’ Anti-Money Laundering Act (Republic Act No. 9160) and its amendments

Abstract

This study was conducted to analyze the content of Philippines’ Anti-Money Laundering Act and its amendments and the convictions under the law. The study utilized a non-experimental qualitative-content research. The study is purely discussion type. No experiments, surveys or interviews were conducted, The study used books, journals, newspaper articles, published reports and academic studies and other internet sources. The study disclosed that the factor that leads to the enactment of the original law is basically to international pressure when the Philippines was included among the list of Non-Cooperative Countries and Territories (NCCT). By comparing the original law and the subsequent amendatory laws, it was revealed that many significant provisions of the original law were amended and there were added provisions in order for the law to be compliant with international standards and to give it more teeth in deterring money laundering. The study also disclosed that since its enactment in 2001, there were only two convictions rendered by Regional Trial Courts.