AML Measures

SELF - RESPONDED

ANTI-MONEY LAUNDERING (AML) AND KNOW YOUR CUSTOMER (KYC) QUESTIONNAIRE

A. BASIC INFORMATION
1.Full registered nameLAND BANK OF THE PHILIPPINES
2.Business addressLANDBANK Plaza 
1598 M. H. Del Pilar cor Dr. Quintos Streets
Malate, Manila 
Philippines 1004
3.Contact Number/s

(632) 5512200/ 5220000

4.Web Address

www.landbank.com

5.TIN (Tax ID No.)

000-470-349-000

6.Corporate Legal Form

Government Financial Institution

7.Date of RegistrationLBP was created by virtue of Republic Act No. 3844, (Agricultural Land Reform Code of 1963), as amended by R.A. 10374 (An Act Extending the Life of Land Bank of the Philippines, passed on 05 March 2013).

Pursuant to Section 97 of R.A. 3844, LBP is under the supervision and regulation of the Central Bank of the Philippines (now BSP). In lieu of the registration/license number, please visit www.lawphil.net for the copy of the enabling law.
8.Type of license for performing banking operations, issuing bodyUniversal Bank issued by Bangko Sentral ng Pilipinas (BSP)
9.List of jurisdictions where your subsidiaries are locatedNot Applicable
10.Number of branches/ banking units364 branches and 4 subsidiaries (as of October 31, 2016)
11.Board of Directors
ChairmanCarlos G. Dominguez
Secretary, Department of Finance
Vice-ChairmanAlex V. Buenaventura
President and CEO
Land Bank of the Philippines
MemberRafael V. Mariano
Secretary, Department of Agriculture
 Emmanuel F. Piñol
Secretary, Department of Agrarian Reform
 Silvestre H. Bello III
Secretary, Department of Labor & Employment
 Mr. Crispino T. Aguelo
Representative, Agrarian Reform Beneficiaries Sector
 Mr. Victor Gerardo J. Bulatao
Representative, Agrarian Reform Beneficiaries Sector
 Mr. Tomas T. de Leon, Jr.
Representative, Private Sector
12.Senior Management

President and CEO
Land Bank of the Philippines

EVP/Head
Agricultural and Lending Sector

Alex V. Buenaventura

 

Cecilia C. Borromeo

EVP/Head,
Corporate Services Sector
Julio D. Climaco, Jr.
SVP/Head,
Operations Sector
Alan V. Bornas
SVP/Head,
Branch Banking Sector
Liduvino S. Geron

SVP/Head,

Treasury and Investment Banking Sector
Carel D. Halog
13.Does your institution have any Politically Exposed Persons in the management?Yes
14.Names of legal entity or persons who own more than 10% of the shares in your companyLBP is 100% owned by the government of the Republic of the Philippines.
15.Is your institution listed in a stock exchange? Please name the stock exchange.No.
16.Name of regulatory body in your country that supervises your institutionBangko Sentral ng Pilipinas (BSP) and Anti-Money Laundering Council (AMLC)
17.Who is responsible for conducting the independent review of AML Program?Internal: Internal Audit Group (IAG)
External: BSP
18.Name of external auditorCommission on Audit (COA)
19.Does your institution publish your latest Audited Financial Statements and equal information electronically? If yes, please specify website.

Yes. Please visit our website at www.landbank.com/transparency or www.coa.gov.ph

B. ANTI-MONEY LAUNDERING MEASURESYESNO
I. General AML Policies, Practices and Procedures
1.Is money laundering a crime in the country where your institution is registered/located? 
2.

Name of the law that regulates Anti-Money Laundering (AML) procedures in the country in which your institution is located: 
Republic Act (R.A.) No. 9160, otherwise known as the Anti-Money Laundering Act of 2001, as amended by the following:

  • R.A. 9194 - an Act Amending Republic Act No. 9160;
  • R.A. 10167 - An Act to Further Strengthen the Anti-Money Laundering Law, approved on 06 July 2012;
  • R.A. 10365 - An Act Further Strengthening the Anti-Money Laundering Law

 

Republic Act No. 10168, otherwise known as "The Terrorism Financing Prevention and Suppression Act of 2012."

3.Name of official entity/agency that regulates anti-money laundering activities in your Country:
Anti-Money Laundering Council (AMLC)
4.Does your institution have written guidelines to prevent, detect and report covered and suspicious transactions that has been approved by senior management? 
5.

Does your institution have a legal and regulatory AML compliance program that includes a designated officer that is responsible for coordinating and overseeing the AML framework which have been approved by the institutions board, senior management or a senior committee? If yes, please provide the following details pertaining to such responsible officer:

Name

:

AMELIA S. AMPARADO

Position / Title

:

First Vice President / Head
Compliance Management Office

Telephone Number

:

(632)4057396

Fax Number

:

(632)5288493

E-mail address

:

AAMPARADO@mail.landbank.com

 
6.In addition to inspections by the government supervisors/regulators, does the institution’s client have an internal audit function or other independent third party that assesses AML policies and practices on a regular basis?
LBP's Internal Audit Group - Annual review
 
7.Does your institution maintain any anonymous or numbered accounts? If yes, please explain. 
8.Does your institution allow direct use of a correspondent account by third party (e.g., payable-through account)? If yes, please explain. 
9.Does your institution provide services to shell banks/institutions (banks/institutions with no physical presence in any jurisdiction)? If yes, please explain. 
10.Does your institution have policies covering relationships with Politically Exposed Persons (PEP’s), consistent with industry best practices? 
11.Do regulations in your country require that your institution report transactions in excess of a given amount and/ or any suspicious transaction to an agency established for such purpose? 
12.Does your institution require that records of your customer's KYC information and transactions be maintained for a period of time? If yes, please indicate retention period.  
Minimum Retention Period: Five (5) Years
 
13.

Does your institution require that it’s AML policies and practices be applied to all branches and subsidiaries?

 
14.Has any action been brought against your institution for violation of laws or regulations on terrorist financing and/or money laundering? If Yes, please explain. 
15.Is your institution fully compliant with the FATF 49 recommendations?  
II. Risk Assessment
16.Does your institution have a risk-based assessment of its customer base and their transactions? 
17.Does your institution determine the appropriate level of enhanced due diligence necessary for those categories of customers and transactions that the institution has reason to believe pose a heightened risk of illicit activities at or through the institution? 
III. Know Your Customer, Due Diligence and Enhanced Due Diligence
18.Does your institution mandate verification of the true identity of all customers at the inception of any business relationship and on an ongoing basis? 
19.Has your institution implemented processes for the identification of those customers in whose behalf it maintains or operates accounts or conducts transactions? 
20.Are reasonable measures taken to obtain information about the legitimacy of client's activities and sources of funds? 
21.Does your institution have procedures to establish a record for each new customer noting their respective identification documents and "Know Your Customer" information? 
22.Does your institution assess its financial institution customers’ AML policies and practices? 
23.Does your institution complete a risk-based assessment to understand the normal and expected transactions of its customers? 
IV. Reportable Transactions and Prevention and Detection of Transactions with Illegally Obtained Funds
24.Does your institution have policies or practices for the identification and reporting of transactions that are required to be reported to the authorities? 
25.Where cash transaction reporting is mandatory, does your institution have procedures to identify transactions structured to avoid such obligations? 
26.Does your system checks the list of individuals and entities under financial measures and/or suspected of terrorist activities to ensure that none of the counterparty is on the list (OFAC-SDN/FATF-NCCT)? 
27.Does your institution have policies to reasonably ensure that it only operates with correspondent banks that possess licenses to operate in their countries of origin?  
28.Does the FI adhere to the Wolfsberg Transparency Principles and the appropriate usage of the SWIFT MT 202/202COV and MT 25/205COV message formats? 
V. Transaction Monitoring
29.Does your institution have a monitoring program for unusual and potentially suspicious activity that covers fund transfers and monetary instruments such as travelers checks, money orders, etc.? 
VI. AML Training
30.Does your institution provide AML training to relevant employees that includes:
  1. Identification and reporting of transactions that must be reported to government authorities;
  2. Examples of different forms of money laundering involving bank’s products and services; and
  3. Internal policies to prevent money laundering.
Please indicate training frequency: With annual updating for responsible personnel
 
31.Does your institution retain record of your training sessions including attendance records and relevant training materials used? 
32.Does your institution communicate new AML related laws or changes to existing AML related policies or practices to relevant employees? 
33.Does your institution employ third parties to carry out some of the functions of the institution? 
34.If the answer to question 31 is yes, does the FI provide AML training to relevant third parties that include: 
Identification and reporting of transactions that must be reported to government authorities.
Examples of different forms of money laundering involving the FI’s products and services.
Internal policies to prevent money laundering.
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CERTIFICATION
We confirm that the information and data given herein are current, true and correct.
 
 

LAND BANK OF THE PHILIPPINES
DATE: 23 November 2016