BSP Circular Letter

August 18, 2004 BSP CIRCULAR LETTER TO : All Banks and Non-Bank Financial Institutions Under BSP Supervision The Anti-Money Laundering Council (AMLC), in the attached Resolution No. 400 dated 30 July 2004, request your cooperation to the call of the United States Government thru its Embassy in Manila to check carefully for offices or financial assets and to freeze these assets should any be found belonging to the CONTINUITY IRISH REPUBLICAN ARMY (CIRA) a.k.a., Continuity Army Council and Republican Sinn Fein, an active terrorist group. Pursuant to said resolution, you are hereby directed to submit directly to the AMLC reports of covered and suspicious transactions, if any, involving the above-named terrorist group. bspcda2004 For your strict compliance. (SGD.) ALBERTO V. REYES Deputy Governor RESOLUTION NO. 400 On 19 July 2004, the Government of the United States, through its Embassy in Manila, sent a letter dated 15 July 2004 addressed to Hon. Rafael B. Buenaventura, Governor, Bangko Sentral ng Pilipinas, regarding its request to check carefully for offices or financial assets belonging to the CONTINUITY IRISH REPUBLICAN ARMY (CIRA), and to freeze the same should any be found. DCScaT The Continuing Irish Republican Army (CIRA), an active terrorist group since 1994, has carried out terrorist bombings and shootings primarily in Belfast and the border areas of Northern Ireland. CIRA's terrorism activities seek to thwart the peaceful resolution of the Northern Ireland conflict. On 13 July 2004, the Secretary of State, pursuant to his authority under US Executive Order 13224, amended the designation of the CIRA to include its aliases, Continuity Army Council and Republican Sinn Fein . In addition, the Secretary designated CIRA and its aliases as a Foreign Terrorist Organization (FTO) under the Immigration and Nationality Act. They have no intention of forwarding these names to the UN 1267 Sanctions Committee for inclusion on its consolidated asset freeze list, as it does not appear that CIRA has links to Usama Bin-Laden, Al-Qaida or the Taliban. However, the provisions of the United Nations Security Council Resolution (UNSCR) 1373 require UN member states to freeze terrorist assets without delay and to prohibit their nationals or persons in their territories from financing terrorism. As a charter member of the United Nations and as part of the international coalition against terrorism, the Philippines, through the Anti-Money Laundering Council, must actively support the actions required under the subject UNSC Resolutions. Pursuant thereto, the Council unanimously resolves, as follows: (1) To require the Supervising Authorities, the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission, and the Insurance Commission to circularize among all covered institutions under their respective jurisdictions, copy of this Resolution; and (2) To direct the covered institutions to submit directly to the Council reports of covered or suspicious transactions, if any, involving the afore-named individuals in accordance with Sections 7 and 9 of the AMLA, as amended and Rule 9.3 of the Revised Implementing Rules and Regulations and other related or applicable rules, regulations, circulars and operating manuals promulgated by the Supervising Authorities. SHADcT 30 July 2004, Manila, Philippines. (SGD.) RAFAEL B. BUENAVENTURA Chairman (Governor, Bangko Sentral ng Pilipinas) (SGD.) LILIA R. BAUTISTA (SGD.) EDUARDO T. MALINIS Member Member (Chairperson, Securities and Exchange Commission) (Officer-in-Charge, Insurance Commission)