TUESDAY, MARCH 5, 2024 * 9:00 AM TO 12:00 NN VIA ZOOM
This AMLA awareness program is to cater to the mandatory training and compliance of all covered persons and institutions. It is to update everyone on the developments including the revised IRR effective January 31, 2021 and the Anti-Money Laundering/ Counter-Terrorism Financing Guidelines for Designated Non-Financial Businesses and Professions effective May 26, 2021.
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. AMLC also 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 Corporation (PAGCOR) or any Appropriate Government Agencies (AGA).
The lecture is to 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 ₱1 million per violation and asset forfeiture.
She is a Certified Public Accountant and a 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. Atty. Adolfo-Madrid is an Integrity Due Diligence consultant at the Asian Development Bank.
Prior to ADB, she was assigned at the Anti-Money Laundering Council Financial Intelligence and Analysis Group as well as the Compliance and Supervision Group where she had written various Financial Intelligence Reports for use by foreign financial intelligence units and Philippine and foreign law enforcement and intelligence agencies. She was also a resource speaker in various government institutions. Eight (8) years of her career was with the Bangko Sentral ng Pilipinas as a Bank Examiner and three (3) years in SGV & Co. (a member of Ernst and Young Global) as a Tax Auditor.
Covered persons/ organizations under BSP
- Banks
- Non-banks
- Quasi-banks
- Trust entities
- Pawnshops
- Non-stock savings and loan associations
- Electronic money issuers
- Foreign exchange dealers, money changers, and remittance and transfer companies.
- All other persons and their subsidiaries and affiliates supervised or regulated by the BSP.
Covered persons/ organizations under
- Insurance companies
- Pre-need companies
- Insurance agents
- Insurance brokers
- Professional reinsurers
- Reinsurance brokers
- Holding companies
- Holding company systems
- Benefit associations
- All other persons and their subsidiaries and affiliates supervised or regulated by the IC.
Covered persons/ organizations under SEC
- Securities dealers
- Brokers
- Salesmen
- Investment houses and
- Other similar persons managing securities or rendering
services such as investment agents, advisors, or consultants.
- Mutual funds or open-end investment companies, close-end investment companies or issuers, and other similar entities
- Other entities administering or otherwise dealing in commodities, or financial derivatives based thereon, valuable objects, cash substitutes and other similar monetary instruments or properties supervised and regulated by the SEC.
Designated Non-Financial Businesses and Professions (DNFBPs)
- Real Estate Brokers and Developers
- Jewelry dealers, dealers in precious metals, and dealers in precious stones
- Company service providers
- Acting as a formation agent of juridical persons;
- Acting as (or arranging for another person to act as) a director or corporate,
secretary of a company, a partner of a partnership, or a similar position in
relation to other juridical persons.
- Providing a registered office
- Business address or accommodation, correspondence or administrative address
for a company, a partnership or any other legal person or arrangement.
- Acting as (or arranging for another person to act as) a nominee shareholder for another person.
- Persons, including lawyers and accountants, who provide any of the following services:
- Managing of client money, securities or other assets
- Management of bank, savings, securities or other assets
- Organization of contributions for the creation, operation or management of companies
- Creation, operation or management of juridical persons or and buying arrangements and selling business entities.
Everyone interested in the AMLA & its Implementing Rules and Regulations
Contact Person: Micah Lara Jalos
Mobile Number 09399148689
Telefax: (+632) 8842-7148 or 59
Email: micah.cgbp@yahoo.com
