MB cancels license of 2 remittance/foreign exchange dealers

THE MONETARY Board (MB) has cancelled the registration of World Wide Money Changer and Edzen Enterprises, both with addresses in Mabini Street, Manila, for violations of the anti-money laundering and money exchange rules. In a statement released Tuesday, May 8, the Bangko Sentral ng Pilipinas said Edzen and World Wide Money, owned by Zenaida M. Artuz and Elliot M. Artuz, respectively, failed to “strictly comply with Republic Act No. 9160 (Anti-Money Laundering Act)… and the minimum procedures on the sale and purchase of foreign currencies.”