MANILA, Philippines — Section 4.1, Rule 16 of the 2018 Implementing Rules and Regulations (IRR) of the Anti-Money Laundering Act of 2001 (AMLA), mandates all covered persons and institutions to develop, or create opportunities for continuing education and training programs for its directors, officers, and employees to promote anti-money laundering, counter-terrorism financing awareness and strong culture of compliance.
To help organizations on this, the Center for Global Best Practices will host two special topics related to RA 9160 or the Anti-Money Laundering Act in August and September via Zoom.
An awareness training and updates on AMLA will be held on August 10 and 11 from 1:30 to 4:45 p.m.
All insurance, pre-need, reinsurance companies, mutual benefit associations, trusts for charitable uses, HMOs, other covered persons (agents, brokers, etc.) and institutions regulated by the Insurance Commission, the Bangko Sentral ng Pilipinas, the Securities and Exchange Commision are required to implement detailed policies, procedures, and training that will prevent money laundering and terrorism financing.
The AMLC also recently included all real estate brokers and developers, as well as offshore gaming operators and their service providers that are supervised, accredited, or regulated by PAGCOR and other appropriate government agencies.
The program is designed to update everyone on the recent developments including the revised IRR of 2021 effective Jan. 31 and the Anti-Money Laundering/ Counter-Terrorism Financing Guidelines for Designated Non-Financial Businesses and Professions (company service providers, lawyers, and accountants, etc.) effective May 26, 2021.
A seminar on how to develop a money laundering and terrorism financing prevention program will be held on Sept. 26 and 27 from 1:30 to 4:45 p.m.
Under the Chapter 5, Rule 16, Section 1 of RA 9160, and its IRR mandates all covered persons to develop, adopt, and implement a comprehensive and risk-based Money Laundering and Terrorism Financing Prevention Program.
The two-session webinar will guide attendees on everything they need to know in the creation of MTPP. Topics will cover the legal and regulatorframework, risk management, relevant policies and procedures pertaining to the major obligations of covered persons, governance and oversight, to the actual implementation of the program.
Registration is open to the general public.
Both programs are accredited by the SEC and AMLC.
For details and a complete list of other Best Practices programs, visit www.cgbp.org. C Manila lines (+63 2) 8556-8968 / 69 or (+63 2) 8842-7148 / 59 for more informations.