Response to exploitation of women: Money transfer ordinance progresses

CEBU, Philippines - Money transfer businesses in Mandaue City may soon have to divulge certain information regarding transactions with clients.

The ordinance requiring remittance systems, money or value transfer businesses to cooperate with the city government was approved on first reading at the City Council.

The measure targets transactions involving illegal activities such as trafficking, sexual exploitation, fraud, and extortion.

Authored by City Councilor Cynthia Remedios with Vice Mayor Carlo Fortuna as co-proponent, the “Money Transfer Ordinance of 2017” ordinance was aimed to support measures meant to protect the rights of women and children and as a way of fighting cyber-pornography and -abuse.

The ordinance recognized that “sexual abuse, including sexual exploitation of children and child pornography, constitute (a) serious violation of fundamental (human) rights."

As proposed, owners or managers of money transfer establishments or remittance systems are required to posts “information, education and communication materials” related to human trafficking or cyber-pornography.

The establishments are required to impose risk management procedures by putting limitations such as the number, type, or amount of transactions filed by a person or a group.

A customer would also be required to present valid identification cards as requirement and the establishment he is transacting with should keep a copy of the his reference persons.

"The money or value transfer business shall (also) identify suspicious transactions and the beneficial owners, to any possible extent," read the proposed ordinance.

If transactions are suspicious, the establishment owner or manager should submit the required information to the oversight committee that would inquire about the matter.

"The money transfer or value business shall submit to the Money Transfer Oversight Committee of the City of Mandaue not later than the 15th day of every month, a monthly report on the number of their customers' suspicious transactions (if there is any), and other relevant matters," read the proposed ordinance.

The committee, which will be headed by the city mayor, will have the vice mayor and the rest of the City Council as members. (FREEMAN)