Designated Non-Financial Businesses and Professions (DNFBPs) are under tighter scrutiny from the AMLC. For covered institutions, this means it’s not enough to simply know who your counterparties are—you also need to confirm their registration and ensure transactions comply with AMLA rules.
Rural banks are no longer flying under the radar. With AMLC and BSP tightening oversight, outdated checks like Google searches and handwritten logs leave dangerous compliance gaps. Smarter banks are turning to tools like UCheck—real-time screening, secure digital logs, and audit-ready reports—so they can face regulators with quiet confidence.
Under the Anti-Money Laundering Act (AMLA), the Bangko Sentral ng Pilipinas (BSP) now expects banks, pawnshops, financing companies, and other covered institutions to go beyond watchlist checks—they must actively monitor “adverse media.”
Politically Exposed Persons (PEPs) don’t always look like high-profile public figures. Many hold indirect influence—through family ties, business partnerships, or advisory roles—that still puts them in the AMLC’s high-risk category. Manual screening often misses these connections, especially when names appear in different formats, local languages, or smaller news outlets.
Manual records are easy to lose, hard to verify, and time-consuming to sort—especially when regulators like the AMLC come knocking. In contrast, UCheck gives you tamper-evident, real-time audit logs that prove every screening was done, when it happened, and who did it.
