FSO hosts forum on Anti-Money Laundering

As part of SGV’s thought leadership initiatives, the Financial Services Organization (FSO) recently hosted an Anti-Money Laundering Forum at the WSDC. Nearly 60 compliance and AML officers from different banking, insurance and financial institutions attended the event. The forum provided participants with insights on the recent developments in AML regulations, including the first Philippine National Risk Assessment (NRA) Report on AML and terrorism financing.

SGV FSO Head Vicky Lee-Salas (VLS) welcomed participants to the forum, while FSO Advisory Partner Ian Lauron (CGL) framed the Philippine context through the results of the NRA Report. He also shared some recommendations for improving current AML systems. EY Hong Kong and China Risk Leader and Asia Pacific AML Leader Philip Rodd shared his views on the AML regulatory environment, including highlights of the Financial Action Task Force, common regulatory findings and deficiencies, and best practices in preparing for a possible country AML audit.

VLS and CGL were the lead partners of the forum, which was organized by Assurance Senior Manager Veronica Arce with the core team comprising FSRM Manager Gabrielle Aragon and Senior Associates Christopher Yu and Denise Rancap, as well as Assurance Associates Radelaine Borreta and Germaine Chuabio.