The Bangko Sentral ng Pilipinas received an award of appreciation from the Anti-Money Laundering Council for its efforts against money laundering and terrorism financing.
The Anti-Money Laundering Council (AMLC) lauded the Bangko Sentral ng Pilipinas (BSP) and handed an appreciation award for its “proactive and assiduous efforts” in preventing money laundering (ML) and terrorism financing in the country.
The AMLC recognized the BSP for implementing new requirements for unregistered remittance operators and applying ML-risk-based supervision of financial institutions during its 21st-anniversary celebration, which was keynoted by BSP Governor and AMLC Chairman Felipe M. Medalla.
AMLC Secretariat Executive Director Matthew M. David, BSP Director Dindo R. Santos, Insurance Commissioner Dennis B. Funa, and BSP Director Florabelle M. Santos-Madrid accepted the BSP's award alongside Governor Medalla.
The BSP and the AMLC are continuing to collaborate to ensure that BSP-supervised entities are in compliance with the Anti-Money Laundering Act of 2001 (AMLA), as amended.
Under the amended AMLA, covered persons include banks, offshore banking units, quasi-banks, trust entities, non-stock savings and loan associations, pawnshops, foreign exchange dealers, money changers, remittance agents, electronic money issuers, and other financial institutions.
The AMLC annually recognizes the contributions of its partner agencies and other stakeholders in implementing and maintaining a whole-of-nation approach to countering money laundering and terrorism financing.
Tags: #BSP, #AMLC, #TerrorismFinancing, #MoneyLaundering