Module 9 - Regulations on Payment Systems / AMLA

Question 1

shall be installed only in centers of activity like shopping centers, supermarkets, hospitals,
university campuses: Provided, That adequate internal control and security measures shall be adopted and
submitted to the Bangko Sentral;

Answer 1

off-site ATMs

Question 2

should be allowed to visit only centers of activity, bank shall notify the appropriate department of the Bangko Sentral of the actual date a mobile ATM becomes
operational and when no longer in operation

Answer 2

mobile ATMs

Question 3

was appointed and designated by the Bangko Sentral as a processing agency and exclusive provider of nationwide Magnetic Ink Character Recognition (MICR)/Automated Clearing Facility

Answer 3

Philippine Clearing House Corporation (PCHC)

Question 4

policy of the Bangko Sentral to promote the
establishment of a safe, efficient, and reliable retail payment system in the Philippines.

Answer 4

National Retail Payment System (NRPS)

Question 5

is committed by any person who, knowing that any monetary instrument or property represents, involves, or relates to the proceeds of any unlawful activity

Answer 5

money laundering

Question 6

is a crime committed by a person who, directly or indirectly, willfully and without lawful excuse,
possesses, provides, collects or uses property or funds or makes available property, funds or financial service or other related services,
by any means, with the unlawful and willful intention

Answer 6

financing of terrorism

Question 7

refers to a transaction in cash
or other equivalent monetary instrument
exceeding P500,000
.

Answer 7

covered transaction (ct)

Question 8

refers to a transaction with a covered person, regardless of the amount involved, where any of the following circumstances exists… related to an unlawful activity, etc.

Answer 8

suspicious transaction (st)

Question 9

includes Coins or currency, Credit instruments
Drafts, checks, and notes, Stocks or shares

Answer 9

monetary instrument

Question 10

refers to any act or omission or series or combination thereof involving or having direct relation to the following:
(1) Kidnapping for ransom
(2) Comprehensive Dangerous Drugs Act
(3) Anti-Graft and Corrupt Practices Act
(4) Plunder
(5) Robbery and extortion

Answer 10

unlawful activity

Question 11

refers to any act establishing any right or obligation or giving rise to any contractual or legal relationship between the parties

Answer 11

transaction

Question 12

refers to an amount derived or realized from any unlawful activity

Answer 12

proceed