SGV hosts seminar on Rethinking Counter-terrorism Financing

SGV/EY Philippines hosted a seminar on Counter-Terrorism Financing (CTF) last 6 February 2018. Anti-money laundering (AML) professionals and compliance officers from different financial institutions, representatives from the Board of Trustees and Founding Members of the Association of Certified Anti-Money Laundering Specialists (ACAMS) Philippine Chapter, along with SGV Chairman and Managing Partner J Carlitos Cruz, Vice Chairman and Deputy Managing Partner Wilson Tan, FSO Leader Vicky Salas and other SGV professionals attended the seminar.

Vicky opened the seminar and discussed the importance of AML/CTF considering the current environment and continuing terrorist attacks. Jose Gabriel Sebastian then introduced the key speakers, who were Tom Keatinge (Director) and Florence Keen (Research analyst) from the Royal United Services Institute for Defence and Security Studies (RUSI) in London.

From left to right: Tom Keatinge and Florence Keen, speakers from the Royal United Services Institute for Defence and Security Studies; SGV FSO Leader Vicky Salas; and SGV Chairman and managing Partner J Carlitos Cruz.

Both speakers have visited different countries to gather information and present their research work from their Research Centre in RUSI, which focuses on public-private partnerships, information sharing and making use of financial intelligence. The seminar focused on the evolving tactics of terrorist financing over the past two decades, what CTF means, what is a CTF strategy and whether the current approaches of covered persons are effective. Tom and Florence presented their ideas on the need for greater focus on finance as an intelligence tool and shifting the approach from ‘stopping terrorist finance’ toward ‘using finance to stop terrorists’. Further, the discussion highlighted the importance of collaboration between the public and private sectors.

Ms. Sally Camposano, who represented the ACAMS Philippine Chapter, gave the closing remarks. The seminar was organized by Vicky Lee Salas and her team, Veronica Arce, Glaiza Escaño, Radelaine Borreta and other members of the SGV AML Team.