[SirZap]

But take note po that there is also an internal monitoring on the Bank side... Kung medyo metikuloso yung audit nila they can still classify your transaction as "suspicious" kc meron din history reporting.. Like for 1 month tinitignan nila ung total transactions mo kahit na hindi ka nag excess sa 500K/day na transaction..

Some banks are more meticulous than others.  If your bank does this then take all your money out and move it somewhere else.

sa pagkakaalam ko susumbong ka kapag suspect ka. pero kung may labas kang pera na ganun kalaki eh may negosyo ka naman e bakit ka i-report?

[Dodong_Pobre]

Required ang reporting ng covered transaction (500K above in one day) regardless of your societal status. Dahil failure of reporting ng covered transaction ay may karampatang penalty sa banko(1,000 per day) na china-charge ang BSP. Then on the "suspicious" it depends on the internal policy of the bank on classifying a suspicious transaction.

[SirZap]

pwede mo bang i-declare sa bangko kung saan pupunta?
example: pmabayad sa bibilhin bahay or kotse

[Dodong_Pobre]

Actually Sir, hindi mo naman kailangan pang i-declare kung saan mapupunta ung pera kapag nag withdraw ka ng ganung kalaking halaga. Kapag nagtransact ka naman, hindi ka naman pipigilan considering na may enough balance ka.. hehehe... Internal procedure na ung pagprocess ng report.Nagkakaroon nalang ng ganoong paliwanagan kapag meron nang formal court order for investigation sa account mo. Pero hindi naman automatic na under investigation kana kapag nagkaroon ka ng transaction na above 500K in one day. As I said in my previous post, it's just a matter of compliance sa part ng banko.

Additionally, ito ung description ng Money Laundering

Money laundering is a crime whereby the proceeds of an unlawful activity are transacted, thereby making them appear to have originated from legitimate sources. It is a process comprising of three (3) stages, namely, placement or the physical disposal of the criminal proceeds, layering or the separation of the criminal proceeds from their source by creating layers of financial transactions to disguise the audit trail, and integration or the provision of apparent legitimacy to the criminal proceeds. Any transaction involving such criminal proceeds or attempt to transact the same during the placement, layering or integration stage shall constitute the crime of money laundering.

[richpulubi]

It is not illegal in any way to move about moneys bigger than P500K.  How can you buy a P5M house if you only transact in small amounts, di ba?  It's just that when you do it often, it LEAVES A FOOTPRINT. It puts you under the microscope, and the BIR may start scrutinizing you.   

[ferrariEverest]

ang required ata ireport (Money laundering-related) ay international transactions. local transactions ok lang ata.

[bauer]

RP is right, pati local transactions monitored na rin meron kasi tayong anti-money laundering law

[ferrariEverest]

RP is right, pati local transactions monitored na rin meron kasi tayong anti-money laundering law

nyek, baka gamitin nila yan sa masama
salamat sa confirmation

[nanashi]

One tip: Never ask for a free tip and do it on where to invest your money. Hire professionals.

[bauer]

professionals also have their masters.

[ferrariEverest]

One tip: Never ask for a free tip and do it on where to invest your money. Hire professionals.

u just gave us a tip.
so, never ask for free, always pay?
problem is Pro's arent always right.

[nanashi]

Your learning.

It's like this - would you rather go to an ambularyo than to a doctor to cure your sickness? Would you rather settle for a pair of pliers to pull your bad tooth than going to a dentist? I rather go to a pro than asking around to Dr. Quack Quack or financial adviser wanna be's. You can ask for some tips but consult first to a professionals rather diving to the unknown.  Of course nothing is guaranteed in life it may go sour even to a professional but at least I rather take higher chances of succeeding after all that's your hard earn money. The earning you keep were pays from your render service (professional fee or salary employee) is it rightful to pay also a professional to get the services what you want? let other work and earn also - if this things keeps up on getting free services - We may be propagating half-cook service sector

[richpulubi]

It is a good idea to consult professional financial advisers...but do not forget that they are still SALESMEN.  And so, you still need to do your own due diligence about where and how to invest.