Training program on AMLA compliance

MANILA, Philippines —  The Center for Global Best Practices will host an online “Awareness Training and Updates on AMLA” on March 5, 2024 from 9 a.m. to 12 noon via Zoom.

This as the Anti-Money Laundering Council (AMLC) released the revised impemeting rules and regulationjs of the Anti-Money Laundering Act (AMLA) that took effect on Jan. 31, 2021 as well as the revised guidelines on Anti-Money Laundering / Counter-Terrorism Financing for Designated Non-Financial Businesses and Professions effective May 26, 2021.

Additionally, Rule 16 Section 4.4 of the 2018 IRR states that, “covered persons and institutions shall provide refresher programs for at least every three years.” This means that those who have previously attended an AMLA training are required to attend for updates.

All insurance, pre-need, reinsurance companies, mutual benefit associations, trusts for charitable uses, HMOs, other covered persons (agents, brokers, etc.) and institutions regulated by Insurance Commission, BSP, SEC are required to attend training as well as implement detailed policies, procedures that will prevent money laundering and terrorism financing. 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 the Philippine Amusement and Gaming Corp. (PAGCOR) and other appropriate government agencies.

This SEC and AMLC-accredited program is designed to update everyone on the recent AML regulations and issuances up to January 2024 including the revised 2021 IRR and the Anti-Money Laundering/ Counter-Terrorism Financing Guidelines for Designated Non-Financial Businesses and Professions (company service providers, lawyers, and accountants, etc.).

Learn all this from CGBP course director and master trainer, Atty. Alphecca Adolfo-Madrid, a CPA-lawyer with expertise in anti-money laundering, banking and taxation laws. She is a certified anti-money laundering specialist (CAMS) highly skilled in audit, compliance and integrity due diligence, and a consultant at the Asian Development Bank.For details and a complete list of other best practices programs such as How to Develop a Money Laundering and Terrorism Financing Prevention Program, Global Standards in Artificial Intelligence Management, Best Practices in Digital Record Governance and more, visit www.cgbp.org or call (+63 2) 8556-8968 or 69 / (+63 2) 8842-7148 or 59.