Compliance officers and representatives of Money Service Business (MSB) entities across the nation are invited to “MSBs: Service Beyond Money & Business,” the inaugural event and conference of the Association of Remittance Company Compliance Officers - Philippines (ARCCO), Inc. on 26 April 2019 at the Dusit Thani Manila, Makati City from 8 a.m. to 5 p.m..
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ARCCO is a newly established non-stock, non-profit organization of compliance officers. Its members come from reputable international and domestic remittance companies as well as pawnshops and money changers, who engage in remittance activities as part of their core businesses.
To date, ARCCO represents around 75 percent of registered MSBs in the Philippines. Among its founding members are MoneyGram, Western Union, LBC, M. Lhuillier, Cebuana Lhuillier, Palawan Pawnshop and Palawan Express Pera Padala, RD Pawnshop, RuralNet, PeraGram, Direct Agent 5, Inc. (DA5), Universal Storefront Services Corporation (USSC), Perahub (Petnet, Inc.), and Vantage Financial Corporation (eBiz).
ARCCO regularly meets with officials of government regulators, such as the Bangko Sentral ng Pilipinas and the Anti-Money Laundering Council, to discuss recent and relevant issuances and regulations and to promote practical and realistic implementation of these.
ARCCO hopes to include all MSBs in its roster to share best practices and raise the level of compliance in the country as well as strengthen the relationship between regulators and MSBs.