L-R: Atty. Mel Georgie B. Racela – Executive Director, AMLC Secretariat; Atty. Rodel U. Buenaventura – Acting Director of the Commitments and Policy Group, AMLC Secretariat; Cecilio D. San Pedro – SBA President & CEO; Luisito S. Mayor – SBA Sr. Vice President & Operations Group Head
The Anti-Money Laundering Council (AMLC) and Sterling Bank of Asia (SBA) have signed an Information Sharing Protocol (ISP) Agreement to help government efforts to combat financial crime in the country. The ISP framework strives to control, detect, and investigate money laundering (ML), terrorism, and terrorism financing (FT) in the country. It will also encompass information sharing and capacity-building measures to improve the ability to combat money laundering, terrorism, and financial terrorism. In addition, the ISP intends to provide an acceptable documentation framework for performing targeted suspicious transaction monitoring and reporting, as well as developing valuable/breakthrough investigation leads.
“This is in line with the Bank’s efforts in promoting a strong and good corporate governance culture,” said Cecilio San Pedro, SBA’s President and CEO.
SBA recognizes the importance of the collaboration between the public and the private sector in upholding a framework that will deliver a more efficient and effective identification and detection of financial crime patterns and trends. “Sterling Bank will extend its full cooperation in the exchange of information and financial intelligence and full support in the capacity-building measure of AMLC,” said San Pedro.
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