In keeping with its mandate and commitment to level up capacity-building and nurture a culture of compliance among key players in the financial sector, the Anti-Money Laundering Council (AMLC) Secretariat recently kicked off its nationwide caravan of lectures on the Anti-Money Laundering Act of 2001 (Republic Act [RA] No. 9160), as amended (AMLA), and related rules and regulations. Dubbed as the “Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) Information Campaign”, the eight (8)-hour lectures were well-attended by officials and front-liners of banks, money service businesses, and pawnshops.
Leading the caravan was AMLC Secretariat Executive Director Mel Georgie B. Racela, with the Secretariat’s legal and examination, and information technology (IT) experts, and Mr. Alvin L. Bermido, Head of its Technical Services Staff (TSS).
The lectures covered amendments to the AMLA (including the most recent, inclusion of casinos as covered persons); its 2016 Revised Implementing Rules and Regulations; the newly-adopted Rules on Imposition of Administrative Sanctions; Reporting Procedures and Guidelines; relevant issuances of the AMLC and the Bangko Sentral ng Pilipinas (BSP); the National Risk Assessment (NRA), and the upcoming Asia Pacific Group (APG) Mutual Evaluation in 2018. AMLA regulations require the officers and front-liners of covered persons to attend AML/CFT trainings every two (2) years.
The first leg of the caravan was held on 13-14 October 2017 in Laoag City, Ilocos Norte, at the Java Hotel, which was attended by 195 participants from all over the Ilocos Region, the Cordilleras and Cagayan Valley. The second leg was held on 27-28 October 2017, in Cebu City, at the Montebello Villa Hotel in Banilad, and was attended by 408 participants from across the Visayas and northern Mindanao. For the third leg of the roadshow, the Secretariat delivered the lectures in Davao City, at the Pinnacle Hotel and Suites, on 17-18 November 2017, which was attended by 371 participants from all over Mindanao. Separate lectures were delivered for banks, and for money service businesses and pawnshops.
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Read more: AMLC SECRETARIAT LAUNCHES NATIONWIDE AML/CFT LECTURE CARAVAN
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