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Expert Speak: Atty. Mel Georgie B. Racela, Anti-Money Laundering Council Secretariat

Course Duration: 13 minutes
Course Points: 10

Atty. Mel Georgie B. Racela, Executive Director, Anti-Money Laundering Council Secretariat divided his presentation into three parts:

  1. Amendments to the 2018 implementing rules and regulations (IRR), the majority of which are based on the recommendations contained in the 3rd round of ME report.
  2. Sanctions Guidelines, issued to improve the low level of Effectiveness under Immediate outcome (IO) 10 (Terrorist Financing Preventive Measures and Financial Sanctions), FATF Recommendation 6, in relation to Immediate Outcome 10 and to meet International Best Practice.
  3. Enforcement Guidelines, used when circumstances surrounding the non-compliance warrant a less severe form of supervisory action and the CPs exhibit willingness to voluntarily address compliance issues within a reasonable period of time and without the necessity of referral of an ROC to the LEG under the RPAC.

This presentation was part of the AMLC-Fintelekt AML/CTF Summit Philippines 2020, conducted virtually from November 23rd – 27th, 2020.

Expert Speak: Atty. Florabelle M. Santos-Madrid, Bangko Sentral ng Pilipinas

Course Duration: 33 minutes
Course Points: 30

Atty. Florabelle M. Santos-Madrid, Director, Financial System Integrity Department, Bangko Sentral ng Pilipinas (BSP) talked about BSP’s Regulatory Issuances. She covered BSP’s Digital Transformation Roadmap 2020-2023, an AML/CTF Surveillance Report being prepared internally, iAMLatest newsletter, a new risk rating framework – Supervisory Assessment Framework (SAFr) and many other initiatives taken by BSP to improve the AML/CFT framework of Philippines.

This presentation was part of the AMLC-Fintelekt AML/CTF Summit Philippines 2020, conducted virtually from November 23rd – 27th, 2020.

Expert Speak: Benjamin E. Diokno, Bangko Sentral ng Pilipinas

Course Duration: 7 minutes
Course Points: 5

Benjamin E. Diokno, Ph.D., AMLC Chairman, Governor of the Bangko Sentral ng Pilipinas shares what to expect from the AMLC-Fintelekt AML/CTF Summit Philippines 2020. He also discussed the latest Mutual Evaluation Report and the key gaps identified by Financial Action Task Force (FATF) in the AML/CTF system in the Philippines and the recommended areas of action.

This presentation was part of the AMLC-Fintelekt AML/CTF Summit Philippines 2020, conducted virtually from November 23rd – 27th, 2020.

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