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AMLC tells banks to update laundering prevention program

The Anti-Money Laundering Council yesterday reminded banks and financial institutions to update their relevant anti-money laundering policies and procedures, particularly the prompt reporting of suspicious transactions......»»

Category: financeSource: philstar philstarJun 30th, 2020

SEC reminds covered entities to update registration with AMLC

The Securities and Exchange Commission has reminded entities under its jurisdiction that are covered by the Anti-Money Laundering Act to register with the anti-money laundering council......»»

Category: financeSource:  philstarRelated NewsFeb 11th, 2020

ADB rolls out online training program vs money laundering

The Asian Development Bank aims to boost the anti-money laundering capacities of partner banks as it teams up with the Association of Certified Anti-Money Laundering Specialists for the pilot rollout of an internationally accredited online training program......»»

Category: financeSource:  philstarRelated NewsDec 6th, 2019

AMLC steps into Wirecard probe

The Anti-Money Laundering Council is ready to step into the probe of the $2.1 billion missing funds of German financial technology leader Wirecard AG, according to its executive director Mel Georgie Racela......»»

Category: financeSource:  philstarRelated NewsJun 24th, 2020

AMLC ready to assist on Wirecard fund search

Currently, the central bank's investigation has centered on the falsified bank documents that made it appear that the money entered local banks......»»

Category: financeSource:  philstarRelated NewsJun 22nd, 2020

AMLC chief confident Philippines to avoid sanctions from dirty money laundering

The Philippines is likely to avoid sanctions from global watchdog Financial Action Task Force with the passage of the anti-terror bill, the Anti-Money Laundering Council said......»»

Category: newsSource:  philstarRelated NewsJun 20th, 2020

Anti-terror bill veto feared to work vs. PH

Failure to pass the anti-terror bill into law will result in the “gray-listing” of the Philippines and put at risk the government’s ambitious goal of attaining an “A” credit rating, the Anti-Money Laundering Council (AMLC) warned over the weekend......»»

Category: newsSource:  thestandardRelated NewsJun 14th, 2020

AMLC: Philippines faces sanctions if terror bill not passed

The Philippines faces possible sanctions from Paris-based anti-money laundering watchdog Financial Action Task Force if it fails to pass key laws, including the controversial anti-terrorism bill, according to the Anti-Money Laundering Council......»»

Category: newsSource:  philstarRelated NewsJun 14th, 2020

Virus-proofing sports facilities presents a big challenge

By DAVE CAMPBELL AP Sports Writer MINNEAPOLIS (AP) — The jersey-wearing camaraderie. The scent of sizzling sausages. The buzz before a big game. The distinctive atmosphere of live sports, that feeling in the air, will return in time as pandemic restrictions are eased. But will that very air be safe in a closed arena with other fans in attendance? The billions of dollars spent on state-of-the-art sports facilities over the last quarter-century have made high-efficiency air filtration systems more common, thanks in part to the pursuit of green and healthy building certifications. Upgrades will likely increase in the post-coronavirus era, too. The problem is that even the cleanest of air can’t keep this particular virus from spreading; if someone coughs or sneezes, those droplets are in the air. That means outdoor ballparks have high contaminant potential, too. “Most of the real risk is going to be short-distance transmission, people sitting within two, three or four seats of each other,” said Ryan Demmer, an epidemiologist at the University of Minnesota’s School of Public Health. “It’s not really about the virus spreading up, getting into the ventilation system and then getting blown out to the entire stadium because this virus doesn’t seem to transmit that way. It doesn’t aerosolize that well.” The three hours spent in proximity to thousands of others is part of the fan experience. It's also why major sports leagues have been discussing plans to reopen in empty venues, for now. High-touch areas with the potential to spread the virus — called fomite transmission — are plentiful at the ballgame, of course. Door handles. Stair rails. Restroom fixtures. Concession stands. Hand washing by now has become a societal norm, but disinfectant arsenals need to be brought up to speed, too. “I can’t really find good hand sanitizer easily in stores. So think about trying to scale that up, so everybody who comes into U.S. Bank Stadium gets a little bottle of Purel. Things like that can be modestly helpful,” Demmer said. There is much work to be done. Vigilant sanitizing of the frequent-touch surfaces will be a must. Ramped-up rapid testing capability during pre-entry screening could become common for fans. Minimizing concourse and entry bottlenecks, and maintaining space between non-familial attendees, could be mandatory. Mask-wearing requirements? Maybe. Most experts, including those at the Center for Disease Control and Prevention, believe the primary mode of transmission for COVID-19 is close person-to-person contact through breathing, coughing or sneezing but there's no consensus on some of the details. “There’s still widespread disagreement between experts on which mode of transmission dominates for influenza. So the likelihood of us figuring this out soon for this virus is low,” said Joe Allen, director of the Healthy Buildings Program and an assistant professor at Harvard’s School of Public Health. “We may never figure it out, but I also think it’s irrelevant because it’s a pandemic and we should be guarding against all of them.” Including, of course, the air. The American Society of Heating, Refrigeration and Air Conditioning Engineers designed the Minimum Efficiency Reporting Value (MERV) scale to measure a filtration system's effectiveness (from 1-16) at capturing microscopic airborne particles that can make people sick. Not just viruses, but dust, pollen, mold and bacteria. Most experts recommend a MERV rating of 13 or higher, the minimum standard for Leadership in Energy and Environmental Design (LEED) certification. An emerging technology in this area is called bipolar ionization. Connecticut-based AtmosAir has a bipolar ionization air treatment system in about 40 sports venues. Staples Center in Los Angeles was one of the first major sports customers. TD Garden in Boston and Bridgestone Arena in Nashville are among the others who’ve signed on. The Minnesota Sports Facilities Authority approved last year a 10-year contract for a little more than $1 million with AtmosAir to install its system in U.S. Bank Stadium, home of the Vikings and the first indoor NFL stadium to use it. The building, which measures 1.8 million square feet, has 53 air handling units with AtmosAir tubes installed, including 30 in the seating bowl. The ions act like fresh air, reducing the amount of outside air needed to be introduced for the cleansing process. The protein spikes in the coronavirus particles make them easier to catch and kill, said Philip Tierno, a New York University School of Medicine professor of microbiology and pathology. Said AtmosAir founder and CEO Steve Levine: “We’re never going to create a mountaintop, but we’re going to put in maybe three to four times the ions over the ambient air and then let those ions attack different pollutants in the air. The ions grab onto particles and spores and make them bigger and heavier, so they’re much easier to filter out of the air." The next time fans do pass through the turnstiles, in a few weeks or a few months, in most cases they will probably encounter an unprecedented level of cleanliness. “There will be some controls that are visible, extra cleaning and disinfection, but some of it will be invisible, like for what’s happening in the air handling system,” said Allen, the Harvard professor. “The consumers will decide when they feel comfortable going back, and that’s going to depend on what strategies are put in place in these venues and stadiums and arenas and, most importantly, how well these organizations communicate that to the paying public.”.....»»

Category: sportsSource:  abscbnRelated NewsJun 1st, 2020

BSP to banks: Be wary of new financial crimes

Banks and other institutions supervised by the Bangko Sentral ng Pilipinas (BSP) are reminded to remain vigilant against emerging financial crimes amid the coronavirus disease (Covid-19) pandemic. “The Covid-19 pandemic has posed challenges in the delivery of financial services due to restrictions on the movement of people, goods and services. New forms of money laundering/terrorism […].....»»

Category: newsSource:  manilatimes_netRelated NewsMay 1st, 2020

BSP tells banks to waive fees on interbank ATM transaction

The Bangko Sentral ng Pilipinas has urged banks to waive fees on ATM transactions as well as interbank fund transfers to ease the burden of Filipinos amid the coronavirus disease 2019 or COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsApr 28th, 2020

Gumabao helps out in relief effort in Pampanga

Creamline star Michele Gumabao finds time to serve the people in these trying times. The champion volleybelle and beauty queen together with her beau, conditioning coach and businessman Aldo Panlilio distributed fresh vegetables and chickens to locals and frontliners in Camp Olivas in San Fernando, Pampanga on Tuesday. Gumabao also brought 200 Relief Eco Pack courtesy of the non-profit organization ‘Your 200 Pesos’.         View this post on Instagram                   Spent the day at Camp Olivas, after hosting duties, together with RD General Rhodel Sermonia we distributed chickens and fresh veggies from Baguio to all the locals and frontliners present. It’s been more than a year since I started working with the PNP and I‘ve really seen first hand how they work together to help the community. We were also able to bring @your200pesos to San Fernando Pampanga where @aldopanlilio12 ‘s family is from as well. We were able to distribute 200 Relief Eco Packs today. One of the longest days I’ve had in a while but so so so worth it! Back in time for curfew ???? A post shared by Michele Gumabao (@gumabaomichele) on Apr 21, 2020 at 4:59am PDT She participated in the relief effort after her hosting Rektang Konek Aksyon Agad live update program of the Philippine National Police.         View this post on Instagram                   Always an honor working with our PNP and General Rhodel Sermonia. Hosting Rektang Konek Akayon Agad today, live updates all the way from Pampanga. Can’t believe the show is almost 1 yr old already! Time flies so fast! @aldopanlilio12 @imadfammar @your200pesos and I brought 200 Relief Eco Packs as our donation to Rektang Bayanihan project. Salute to all our frontliners! Continue the hard work and may God be with all of you! A post shared by Michele Gumabao (@gumabaomichele) on Apr 21, 2020 at 12:33am PDT.....»»

Category: sportsSource:  abscbnRelated NewsApr 22nd, 2020

DILG tells barangays to post list of SAP beneficiaries

CEBU CITY, Philippines — Amid the questions in the identification of beneficiaries for the national government’s social amelioration program (SAP), the Department of Interior and Local Government (DILG) has directed barangay chiefs to publicize their list of beneficiaries in view of transparency. In a press statement, the DILG told village chiefs to post the list […] The post DILG tells barangays to post list of SAP beneficiaries appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsApr 20th, 2020

DILG tells LGUs to use Bayanihan Grant for left-out families

DAVAO CITY, April 19 (PIA) - While there may be qualified families who were not included in the list of Social Amelioration Program (SAP) beneficiaries, the Department of Interior and Local Governm.....»»

Category: newsSource:  manilanewsRelated NewsApr 19th, 2020

Rep. Barbers sinita ang AMLC kaugnay ng dirty money

REP. Robert “Ace” Barbers     POL MONTEBON SINITA ni Rep. Robert “Ace” Barbers ang Bureau of Customs at Anti-Money Laundering Council o AMLC dahil sa tila pagiging relax kaya naipasok sa bansa ang nasa $1.02 billion na posibleng “dirty money.” Aniya, mayroong international law kung saan hindi pinapayagan ang pagdadala ng higit sa $10,000 […] The post Rep. Barbers sinita ang AMLC kaugnay ng dirty money appeared first on PINAS......»»

Category: newsSource:  pinasglobalRelated NewsMar 18th, 2020

BSP directs banks to report all money laundering attempts

The Bangko Sentral ng Pilipinas on Wednesday urged all banks and other financial institutions to report any suspected money laundering transactions, whether completed or attempted, done by any of their clients......»»

Category: financeSource:  thestandardRelated NewsMar 12th, 2020

AMLC denies inaction on $600 million cash believed laundered

An Anti-Money Laundering Council official has strongly denied allegations that the body has been remiss in taking action on the suspicious influx of over $600 million in cash brought in by Filipino and Chinese couriers in the last seven months......»»

Category: newsSource:  philstarRelated NewsMar 9th, 2020

‘AMLC officials should resign or be fired’

Officials of the Anti-Money Laundering Council should resign or be fired for their failure to stop apparent money-laundering activities, with millions coming into the country since last year, Sen. Richard Gordon said......»»

Category: newsSource:  philstarRelated NewsMar 8th, 2020

Senators slam AMLC inaction

Senator Richard Gordon bewailed the failure of the Anti-Money Laundering Council to act promptly on money laundering cases, denouncing it as an example of “bureaucracy in its worst form.”.....»»

Category: newsSource:  thestandardRelated NewsMar 6th, 2020

BFP-7 Celebrates Fire Prevention Month

The Bureau of Fire Protection in Central Visayas (BFP)-7 celebrates the fire prevention month this March with “Oplan Ligtas Pamayanan”. Dubbed as “Matuto ka, sunog iwasan na”, the program aims to help the community to be properly informed about what to do when a fire incident breaks. SINSP. Ethel Margaha, chief of the fire safety […].....»»

Category: newsSource:  metrocebuRelated NewsMar 4th, 2020

BSP allows foreign banks to lend more for infrastructure

Foreign banks have been given one more year to extend more loans to crucial infrastructure projects under the Duterte administration’s massive infrastructure program......»»

Category: financeSource:  philstarRelated NewsFeb 9th, 2020