AMLC pushes for national policy to fight money laundering, terrorist financing

The Anti-Money Laundering Council (AMLC) will spearhead the crafting of a national policy to combat dirty money and terrorist financing over the next two years, as part of the country’s compliance to global standards.
“As part of our compliance with the FATF Forty Recommendations, there is a need for the country to adopt a National Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Policy Strategy. In this regard, the AMLC and member-agencies of the National ME WG shall actively participate in the drafting of a National AML/CFT Policy Strategy for the purpose of strengthening mechanisms to ensure compliance with international standards and effectively combat ML/TF,” the AMLC Secretariat said in its letter signed on April 20. — Melissa Luz T. Lopez