Banking Laws Flashcards
All deposits of any bank are insured with the _____
PDIC
Insured deposit means the net amount due to any depositor for deposits in an insured bank but should not exceed ______
P500,000
The claim must be filed within how many years from the actual takeover by the receiver?
2 years
Period for the PDIC to settle claim
6 months from the date of filing the claim
The covered person is obligated to keep records for how many years?
5 years
A covered person is obligated to report covered and/or suspicious transactions to AMLC within how many days from occurrence?
5 working days
The AMLC can prescribe a different period for reporting covered and/or suspicious transactions to AMLC as long as it does not exceed __________
15 working days
All cases on money laundering shall be within the jurisdiction of ______
Regional Trial Court (RTC)
An extraordinary and interim relief issued to prevent the dissipation, removal, or disposal of properties that are suspected to be proceeds of, or related to unlawful activities as defined in RA9160
Freeze Order
The power to freeze accounts is vested unto _______
Court of Appeals (CA)
The court should act on the petition to freeze within how many hours from filing therof?
24 hours
A freeze order shall be effective immediately for a period not to exceed ______
1 month
A freeze order may be extended for a period not exceeding ______
6 months
Who serves as Chairman of the AMLC?
BSP Governor
AMLC may conduct an examination of bank accounts without a court order in cases involving __________
Kidnapping for ransom
