Share |
Download: Flyer - Black&White (.PDF 396kb)
                         Course Outline (.PDF 116kb)



THURSDAY, JANUARY 31, 2019 * 9:00am to 5:00pm
With the recent release of Insurance Commission circular 2018-48 and 2018-60 that took effect November 14 and 22, 2018 respectively, all insurance, pre-need, reinsurance companies, mutual benefit associations, trusts for charitable uses, HMOs and other covered persons (agents, brokers, etc.) and institutions regulated by Insurance Commission are required to implement detailed policies, procedures and training that will prevent money laundering and terrorism financing. This coincides with the Anti-Money Laundering Council’s 2018 Revised IRR on Anti- Money Laundering Act which took effect on November 22, 2018 and is applicable to all holding companies, banks, financing companies, pawnshops, jewelers, casinos, e-money issuers, forex dealers, money changers, remittance & transfer companies, persons including lawyers, accountants, and compliance officers.

This pioneering one-day program is to cater to the mandatory training and compliance of those covered persons and institutions. The lecture is to help provide participants and their organizations the guidance to good governance practices that one will find useful to mitigate business exposures to reputational, legal and regulatory risks. Non-compliance can be very costly including jailtime, penalty of up to P1 million per violation and asset forfeiture. Attend!
 ​ Limited Seats Only, Pre-Registration Required

Avail of the Group DISCOUNT

   Contact Person: Marae Dominguez
   Manila lines: (+632) 556-8968 or 69
 Manila Telefax: (+632) 842-7148 or 59
   Cebu lines: (+63 32) 512-3106 or 07
   Baguio line: (+63 74) 423-2914

Course Director & Lecturer:
- is a Certified Compliance Officer which he obtained certification from the American Academy of Financial Management. He is a senior partner at Divina Law. His expertise include Corporate, Banking and Finance, Insurance, Trust, and Special Projects with emphasis on regulatory compliance (AMLC, SEC, IC, etc), corporate finance, mergers and acquisitions, corporate housekeeping, financing documentation, cross-border transactions, and trust operations & investments. His previous positions include having been a senior vice president at the Development Bank of the Philippines, first vice president and chief compliance officer at Robinsons Bank, and first vice president and head of the Legal Services Group of Robinsons Savings Bank.

Who Should Attend:

     - Officers and employees of covered
       institutions as described in this

     - Everyone interested in the AMLA
       & its Implementing Rules and

 -------------------------------------------------    Training Investment is P9,980
   inclusive of Meals, Resource Kit,
   & Certificate of Attendance

This Training is Open
to the General Public

AMLA for Insurance Companies and Financial Institutions

Manila Marriott Hotel, Pasay City, Philippines
9:00am to 5:00pm, Thursday, January 31, 2019

Course Outline

This pioneering one-day program is to cater to the mandatory training and compliance of all institutions and persons based on Insurance Commission Circular 2018-48 and 2018-60 effective November 14 and 22, 2018 respectively and the Anti-Money Laundering Council’s Revised AMLA IRR effective November 22, 2018.

This is applicable for the compliance of insurance, re-insurance, pre-need companies, mutual benefit associations, trusts for charitable uses, HMOs, insurance brokers, agents and all other covered persons and institutions regulated by the insurance commission. This training is also useful to all covered institutions as mandated by the Anti-Money Laundering Council such as holding companies, banks, non-bank financial institutions, savings and loans associations, pawnshops, jewelers, casinos, e-money issuers, forex dealers, money changers, remittance and transfer companies, accountants, lawyers, compliance officers
and all other covered persons and institutions.

Chapter I. General Provisions

      Rule 1 – Purpose, Policies and Principles
      Rule 2 – Definition of Terms
      Rule 3 – Unlawful Activities
      Rule 4 – Covered Persons

Chapter II. Supervision and Enforcement

      Rule 5 – Anti Money Laundering Council
      Rule 6 – Powers and Functions of the AMLC
      Rule 7 – Supervision and Compliance Checking
      Rule 8 – Investigation and Law Enforcement

Chapter III. Money Laundering, Terrorism Financing and Asset Forfeiture

      Rule 9 – Money Laundering and Terrorism Financing
      Rule 10 – Freeze Order
      Rule 11 – bank Inquiry
      Rule 12 – Asset Forfeiture

Chapter IV. National Risk Assessment and National Risk Management

      Rule 13 – National Risk Assessment
      Rule 14 – National Risk Management

Chapter V. Preventive Measures and Obligations of Covered Persons

      Rule 15 – Institutional Risk Assessment and Management
      Rule 16 – Money Laundering/ Terrorism Financing Prevention Program

Chapter VI. Preventive Measures

      Rule 17 – Prohibited Accounts
      Rule 18 – Customer Due Diligence

         Section 1. Purpose and Applicability of CDD
            1.1. Purpose of CDD
            1.2. When is CDD Applicable
            1.3. Existing Customers

         Section 2. Customer Due Diligence Measures
            2.1. Measures for CDD
            2.2. Timing of CDD
            2.3. Average Due Diligence
            2.4. Customer Acceptance Policies

         Section 3. Customer Identification Process
            3.1. General Requirement for CIP
            3.2. First Time Transactions
            3.3. System for Collection and Recording of Data
            3.4. Required Identification from Natural Persons
            3.5. Required Identification Data from Juridical Persons
            3.6. Required Identification data from Legal Arrangements
            3.7. Sufficiency of PSN or PhilD in Proving Identity

         Section 4. Customer Verification Process
            4.1. General Requirement for CVP
            4.2. CVP for Juridical Persons and Legal Arrangement
            4.3. Timing of CVP
            4.4. Transacting or Using Relationship prior to CVP
            4.5. Modes of CVP
            4.6. Use of Communication and Information Technology

         Section 5. Identification and Verification of Agents

         Section 6. Beneficial Ownership Verification
            6.1. General Requirement for BOV
            6.2. Documents Evidencing Relationship Timing of BOV
            6.3. Timing of BOV
            6.4. BOV for Juridical Persons
            6.5. BOV for Legal Arrangements

         Section 7. Determination of the Purpose of Relationship

         Section 8. On-going Monitoring Process
            8.1. General Requirement for OMP
            8.2. EDD After Conduct of OMP
            8.3. Review and Updating of Records

         Section 9. Risk-based approach in conducting CDD
            9.1. Risk-based CDD
            9.2. Risk Profiling of Customers
            9.3. Risk Profiling of Juridical Persons
            9.4. Documentation of Risk Profiling Results
            9.5 Standards for RDD, ADD and EDD

         Section 10. Enhanced Due Diligence

         Section 11. Reduced Due Diligence

         Section 12. Failure to Complete CDD

         Section 13. CDD and Tipping-off

      Rule 19 – Preventive Measures for Specific Transactions and Activities

      Rule 20 – Record-Keeping

      Rule 21 – Reliance on Third Parties and Service Providers

      Rule 22 – Transaction Reporting

Chapter VII. Beneficial Ownership

      Rule 23 – Beneficial Ownership of Juridical Persons
      Rule 24 – Beneficial Ownership of Legal Arrangements

Chapter VIII. Sanctions

      Rule 25 – Criminal Sanctions
      Rule 26 – Administrative Sanctions
      Rule 27 – Civil Sanctions

Chapter IX. Domestic and International Cooperation

      Rule 28 – Domestic Cooperation
      Rule 29 – Mutual Legal Assistance
      Rule 30 – Extradition
      Rule 31 – Other Forms of International Cooperation

Chapter X. Miscellaneous Provisions

      Rule 32 – Asset Management, Feedback Mechanism and Statistics
      Rule 33 – Non-Intervention in the Operations of the Bureau of Internal Revenue
      Rule 34 – Separability and Repealing Clauses
      Rule 35 – Transitory Provisions, Modes of Amendment and Effectivity Clause

Center for Global Best Practices also conduct in-house training for a minimum of 20 participants. It is an accredited training provider of the following institutions:

                                       Securities and Exchange Commission
                                       Bangko Sentral Ng Pilipinas
                                       Civil Service Commission
                                       Philippine Regulations Commission

SEMINAR FEE PER PERSON: P9,980 (Fee covers Meals, Resource Kit, Certificate of Attendance)


Less 5% for early registrants (on registrations made on or before January 11, 2019)
Less 5% for early payment (if made on or before January 21, 2019)
Less 5% for group registration (minimum of 3 participants)

Share |
Download: Flyer - Black&White (.PDF 396kb)
                         Course Outline (.PDF 116kb)