Learn about mandatory AMLA compliance

MANILA, Philippines — Anti-Money Laundering Council (AMLC) released the 2021 Revised IRR on AMLA that took effect last Jan. 31, as well as the new guidelines on anti-money laundering/ counter-terrorism financing for designated non-financial businesses and professions effective May 26. Noncompliance to AMLA can lead to jail time, penalty of up to P1 M per violation and asset forfeiture!

With the growing AMLA-related cases in the Philippines, the Center for Global Best Practices is launching a webinar entitled Awareness Training and Updates on AMLA from 1:30 to 4:45 p.m. on Monday and Tuesday, Aug. 2 and 3, via Zoom. [For details and a complete list of Best Practices programs visit www.cgbp.org. You may also call Manila Lines (+63 2) 8556-8968 / 69 or (+63 2) 8842-7148 or 59.]

The two-session webinar caters to the mandatory training and compliance of all covered persons and institutions regulated by the Bangko Sentral ng Pilipinas (BSP), Insurance Commission (IC), Securities and Exchange Commission (SEC), including designated non-financial businesses and professions (DNFBPs). These now includes and refers to real estate developers and brokers, offshore gaming operators, and its service providers regulated by Philippine Amusement and Gaming Corporation (PAGCOR), or any appropriate government agencies (AGA) such, but not limited to APECO and CEZA. Dealers of jewelry, precious metals and stones, lawyers, and accountants are also covered by this law.

This program will feature CGBP course director and lecturer, Danny Bunyi, who is a certified compliance officer obtained from the American Academy of Financial Management. He is a senior partner and head of corporate and special projects at Divina Law.

Lawyer Mel Georgie Racela, executive director of the Anti-Money Laundering Council (AMLC) will join this special program as a panelist to answer all the questions at the end of the lecture segment.

Registration is open to the general public. This program is accredited by the SEC for corporate governance. Board directors and key management officials attending this training are deemed to have complied with the training requirement for eligibility to be appointed, reappointed, elected or reelected in the board of public companies and publicly-listed firms.