SGV Financial Services Organization (FSO) Partner Veronica Mae Arce Balisi and Senior Director Minette Cruz were resource speakers at the Philippine Association of Real Estate Boards – Pasay-Makati Realty Board, Inc.’s 7th Business Membership Meeting. The event took place at Paseo de Magallanes, Makati City. They shared their knowledge and insights on Anti-Money Laundering and Counter Terrorist and Proliferation Financing (AML/CTPF) through a training session.
PAREB-PMRB, President Glorie Marie Sy welcomed the attendees. Secretary Amor Milana introduced Veronica and Senior Director Minette Cruz as the resource speakers.
Veronica provided a review of the latest AML/CTPF developments within the Philippine legislative and regulatory framework. She also discussed the responsibilities of Real Estate Brokers (REBs) and Real Estate Developers (REDs) as entities subject to AML/CTPF regulations.
Minette provided a detailed walkthrough of the Anti-Money Laundering Council's (AMLC) newly launched Compliance Optimization and Registration System (CORS). She also discussed how to navigate and utilize the system effectively to ensure compliance with the latest AML/CTPF requirements.
Veronica and Minette were joined by FSO Consulting Director Anne Mariel Lagao, Senior Associate Alech Nicole Margallo, and Associates Liddy Lalaine Corpuz, Jonna Rose Javier, Polaine Garrovillas, and Chenalyn Ondoy, who served as facilitators during the AML/CTPF training.
To wrap up the session, Veronica emphasized the crucial role of real estate brokers in the fight against money laundering, calling on them and developers to uphold integrity and deter illicit financial activities within the Philippines' real estate sector. She concluded with a reminder that no client is worth letting your company, your profession, and yourself be involved in money laundering.
SGV's FSO team had previously conducted a specialized training session for the PAREB-PMRB members in March 2024. This earlier session laid the groundwork for the discussions and updates that were presented in the July meeting, demonstrating SGV's commitment to supporting AML/CTPF knowledge and awareness.
