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Best Practices Guide to the Anti-Money Laundering Law and Its IRR

AMLC SEC

Training investment is inclusive of an e-certificate and a printed learning material

P 2,980.00 / person - when you register and pay on or before February 5

P 3,980.00 / person - Regular Rate

*Optional:
Add P450 for a printed copy of a certificate of attendance inclusive of delivery charge


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.



Course Director & Lecturer



Atty. Alphecca Adolfo-Madrid



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.

Who Should Attend?


  • 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

Course Outline

I. What is Money Laundering


II. The Anti-Money Laundering Act of 2001
      - Salient Features
      - Updates including newly released AML Guidelines for Designated
         Non-Financial Business and Professions effective May 26

III. Governing Principles (2018 IRR and 2021 Revised IRR)

IV. Guidelines for Insurance Commission Regulated Entities (ICREs)

V. Guidelines for Other Covered Entities and Persons

VI. Responsibilities of ICREs

VII. Money Laundering Offenses
      - Offenses & Penalties
      - Other Offenses
      - Penalties Under IC Guidelines

VIII. Unlawful Activity

IX. Regulatory Compliance Framework
      - Know Your Customer
      - Record Keeping
      - Reporting of Covered and Suspicious Transactions
      - Training of Employees
      - Written Anti-Money Laundering Prevention Program

X. Covered Persons

XI. Covered Transaction Reporting

XII. Suspicious Transaction Reporting

XIII. Indicators of Suspicious Transactions

XIV. Reporting of Covered and Suspicious Transactions to the AMLC

XV. Breach of Confidentiality

XVI. AMLC (The Anti-Money Laundering Council of the Philippines)

XVII. Other Updates that May be Issued by AMLC up to February 2024

*Note: This training is accredited by the Anti-Money Laundering Council (AMLC) and Securities and Exchange Commission (SEC).


AMLA - COVERED INSTITUTIONS

   A. Persons supervised or regulated by Bangko Sentral ng Pilipinas (BSP), such as:
        • Banks
        • Non-banks
        • Quasi-banks
        • Trust entities
        • Pawnshops
        • Non-stock Savings and Loan Associations
        • Electronic money issuers
        • All other persons and their subsidiaries and affiliates supervised or regulated by the BSP.

   B. Persons supervised or regulated by Insurance Commission (IC), such as:
        • 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.

   C. Persons supervised or regulated by the Securities and Exchange Commission (SEC) , such as:
        • 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 companies
        • Close-end investment
        • 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.

   D. Designated Non-Financial Businesses and Professions (DNFBPs)
        • Real Estate Brokers and Developers
        • Offshore Gaming Operators, as well as their service providers, supervised, accredited or regulated by the Philippine Amusement and Gaming
           Corporation (PAGCOR) or any Appropriate Government Agency (AGA)

        • 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; and

             - 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; and
             - Creation, operation or management of juridical persons or and buying arrangements and selling business entities.


Attendees from the government are exempted from the P2,000.00 limit set by COA for attending training provided by the private sector based on Department of Budget and Management Circular No. 563 dated April 22, 2016.

Attending this training is not covered by Philippine Procurement Law or RA 9184 based on its Revised IRR’s Section 4.5-b. which classifies training continuing education, conferences and similar activities as "non-procurement activities that shall be governed by applicable COA, CSC, and DBM rules".
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Contact Details

Contact Person: Micah Lara Jalos
Mobile Number 09399148689
Telefax: (+632) 8842-7148 or 59
Email: micah.cgbp@yahoo.com

Account Name: Center for Global Best Practices Foundation, Inc.

Metrobank: 495-3-495-504-418
Unionbank: 0013-3002-7702
PNB: 1477-7000-0961
Landbank: 3832-1015-82

Address

Unit 905 Richville Corporate Tower
1107 Alabang-Zapote Road
Madrigal Business Park
Muntinlupa City, 1780, Philippines

Contact Us

(+63 2) 8556-8968 (+63 2) 8556-8969 (+63 2) 8842-7148 (+63 2) 8425-9752 (+63 2) 8842-7159 cgbp.info@gmail.com

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