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Best Egmont Case Award Champion

 

Four years after its launch, the Anti-Money Laundering Council (AMLC) is awarded the Best Egmont Case Award (BECA). Granted by the Egmont Group of Financial Intelligence Units, the BECA highlights the vital role of the AMLC in the investigation process, which entails tracing, freezing, and seizing the proceeds involved in the scam cited in its submitted case.

“We take pride in this win as it is an affirmation of all the hard work that the Council and the Secretariat have put in to combat money laundering in the country,” noted AMLC Secretariat Executive Director Atty. Julia C. Bacay-Abad. “I am particularly proud of the case we have submitted as it shows how cooperation among our domestic partners can prevail amidst the difficult circumstances and create a strong impact in our fight against corruption. Indeed, AMLC has become a more effective FIU and a stronger anti-money laundering or counter-terrorism financing partner, and our peers have recognized this.”

 

AMLC Secretariat Deputy Director Atty. Vencent L. Salido received the prestigious recognition on behalf of the AMLC in a plenary session held from 7 to 12 June 2015 at Barbados, Eastern Caribbean. This prestigious recognition, according to Atty. Salido, demonstrates the effective cooperation of the Philippines with domestic and international law enforcement agencies. 

The Egmont Group, a global organization of 151 financial intelligence units (FIUs), seeks to provide a forum for international cooperation in the fight against money laundering and terrorism financing, especially in the areas of information exchange, training, and sharing of expertise. The group created BECA in 2011 to recognize successful cases from which member-FIUs can learn and to appreciate real-life examples of cases that have been successfully prosecuted and publicly reported.

The AMLC is chaired by Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. In 2012 the AMLC placed second to Russia in the BECA race.

 

TEXT AND IMAGE (EGMONT AWARD) NOEL VALISNO JR.

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