Source Document
Manual of Regulations for Banks
BSP.MORB.2023.Sec922.p30.OBL4
Manual of Regulations for Banks > 922 COVERED AND SUSPICIOUS TRANSACTION REPORTING > Electronic submission of reports > 922
Obligation Summary
Submit CTRs and STRs to the AMLC electronically over a secured channel, following the AMLC's prescribed reporting procedures.
The CTR and STR shall be submitted to the AMLC in a secured manner, in electronic form and in accordance with the reporting procedures prescribed by the AMLC.
MORB, Sec. 922, p. 30 (2023 ed.) · Manual of Regulations for Banks · p. 30
Manual monitoring. Covered persons which are not required, under the AML/CFT Regulations, to have an electronic system of flagging and monitoring transactions shall ensure that they have the means of flagging and monitoring the transactions mentioned in this Section on Electronic monitoring systems for AML/CFT. They shall maintain a register of all STs that have been brought to the attention of senior management whether or not the same was reported to the AMLC.
Electronic submission of reports. The CTR and STR shall be submitted to the AMLC in a secured manner, in electronic form and in accordance with the reporting procedures prescribed by the AMLC. The covered persons shall provide complete and accurate information of all the mandatory fields required in the report. In order to provide accurate information, the covered person shall regularly update customer identification information at least once every three (3) years.
For the purpose of reporting in a secured manner, all covered persons shall register with the AMLC within ninety (90) days from 27 January 2011 by directly coordinating with that office for the proper assignment of their institution code and facilitation of the reporting process. All covered institutions that have previously registered need not re-register.
What This Requires.
ProfytAI Regulatory Intelligence
Type: requirementRequires covered persons to submit CTRs and STRs to the AMLC electronically, through a secured channel, and in accordance with the AMLC's prescribed reporting procedures.
Relationship
Opens the 'Electronic submission of reports' subsection, immediately after the 'Manual monitoring' subsection (OBL2, OBL3) closes; the following paragraph (not in this pack) implements it procedurally by requiring AMLC registration for secured reporting.
Why This Exists
Standardizes and secures the transmission of covered and suspicious transaction reports so sensitive financial-crime information reaches the AMLC reliably and confidentially.
Implementation Considerations
Typically involves using the AMLC's designated secure electronic reporting channel and keeping submission practices current with AMLC's prescribed procedures.
Interpretation Note · 'CTR' and 'STR' are the defined report forms for covered and suspicious transactions; the reporting procedures themselves are set 'as prescribed by the AMLC,' an external standard incorporated by reference rather than specified here.
This explanation is generated regulatory intelligence, traceable to the citation above.
The byte-exact verbatim text remains the authority you cite.
The captured source page, with this duty highlighted and stamped with its obligation ID, section, and page.
