SGV Financial Services Organization (FSO) Partner Veronica Mae Arce Balisi (VAB) was a resource speaker at the Financial Executives Institute of the Philippines (FINEX) Anti-Money Laundering and Counter Terrorist and Proliferation Financing (AML/CTPF) training held on 28 April 2023 via Zoom. This was VAB’s 8th time conducting this session for FINEX Academy. FSO Associate Director Juan Paolo Gaco together with Associates Rubin Hollero II and Coleen Mae Panuela served as facilitator and presenters of the training.
Veronica (top left) with SGV Associate Director Juan Paolo Gaco (lower right),
FINEX Academy Treasurer Ned Goseco (top right), and FINEX Capital Markets Development Committee Chairman Manny Ocampo (lower left).
FINEX Capital Markets Development Committee Chairman Manny Ocampo delivered the welcome remarks and introduced Veronica as the resource speaker. Veronica formally kicked off the training with a call to action on addressing AML/CTPF risks, highlighting the efforts of the authorities to get out of the Financial Action Task Force’s grey list by January next year.
Veronica gave an overview of money laundering, and terrorist and proliferation financing (ML/TPF) and cited sample typologies and actual cases from the Asia Pacific Group on Money Laundering (APG) that are relevant to the industry. She also discussed different concepts of predicate crimes and unlawful activities, the Philippine legislation and updates on the regulatory landscape, and the primary duties of covered persons or institutions in combatting ML/TPF.
Veronica wrapped up the training session with a message to the attendees on not compromising one’s profession, firm, or company by accepting clients that may be involved in money laundering. She added that covered persons have their own roles that can mitigate AML/CTPF risks, and if they use their power or authority for the right purposes, then these risks can be deterred in the country.