BSP conducts anti-money laundering seminar

Anti-Money Laundering ActThe Bangko Sentral ng Pilipinas (BSP) and the Anti-Money Laundering Council (AMLC) conducted a 2-day seminar on anti- money laundering.

BSP discussed the Pawnshop Regulation Acts and R.A. 9160 as amended by R.A. 9194 or Anti-Money Laundering Act (AMLA) and other rules and Regulations governing the business of pawnshop or pawnbrokering, money changing and as remittance agent.

The seminar also covered a discussion of the duties and responsibilities of both the pawner and the pawnee, innovations/evolutions in the pawnshop business and some financial data on the industry.

The briefing on pawnshop regulations and AMLA seminar for stockholders/proprietors, directors and officers and employees directly in-charge of operations of pawnshop/foreign exchange dealer/money changer (FXD/MC) and remittance agent (RA) was one of the pre-requisites for the issuance by the BSP of the Acknowledgement of Registration (AOR)/Authority to Operate (AO)/Certificate of Registration (COR) for these entities.IMT