The Anti-Money Laundering Council (AMLC) and the Department of the Interior and Local Government (DILG) have issued draft implementing rules and regulations (IRR) for a law aimed at enhancing protection for children from sexual abuse.
Stakeholders have until January 3, 2025 to submit comments on the proposed rules on the Online Sexual Abuse and Exploitation of Children and Child Sexual Abuse or Exploitation Materials (OSAEC-CSAEM).
The draft regulations introduce measures to prevent and penalize the online distribution of exploitative content involving children. They also stress the need for cooperation between law enforcement agencies, financial institutions, and other stakeholders.
Among the provisions is the requirement for financial institutions to monitor, report, and block transactions related to online sexual exploitation of children. The regulations also call for the use of technology to track and prevent suspicious activities connected to such crimes.
Covered persons must file suspicious transaction reports under AMLC’s registration and reporting guidelines. These reports must include all transactions, completed or attempted, and be submitted by the next working day after suspicion arises. The “discovery date” refers to when suspicion is first identified.
When reporting OSAEC/CSAEM-related STRs, covered entities must follow the suspicious transaction reporting framework outlined in the Anti-Money Laundering Act (AMLA) and the AMLC’s registration and reporting guidelines.
STRs are confidential, and entities, along with their officers and employees, are prohibited from disclosing information about the reports to any individual, organization, or media.
Failure to meet reporting requirements will result in administrative sanctions for the violating entity and its responsible directors, officers, employees, or other accountable individuals.
Within a year of the regulations taking effect, the Department of Justice’s Office of Cybercrime, together with the National Coordination Center against OSAEC and CSAEM and the AMLC, will develop a centralized database to handle reports.
Covered entities are required to implement or update their monitoring systems to ensure compliance with OSAEC and CSAEM regulations within one year of the rules becoming effective.
