Anti-Money Laundering Roundtable in the Philippines

The presentation focused on the Money Laundering Control Act and the Bank Secrecy Act and explained how the laws operate in the U.S., including its extra-territorial application, reporting suspicious transactions, and large scale transactions.

06.11.07 

On April 17, as part of its rule of law program on knowledge sharing, the Asia Division sponsored a roundtable discussion on regulatory and compliance issues and the Philippines’ gatekeepers initiative for members of the Anti-Money Laundering Council (AMLC).

Greg Baldwin’s presentation focused on the Money Laundering Control Act and the Bank Secrecy Act and explained how the laws operate in the U.S., including its extra-territorial application, reporting suspicious transactions, and large scale transactions.

During the open discussion session that followed the presentation, Mr. Baldwin gave advice on how participants can work with U.S. counterparts to fast-track and expedite their probes, particularly to those participants engaged in the investigation aspect of anti-money laundering. Following the roundtable discussion, the AMLC said that the program was most welcome, as they felt that the AMLC Secretariat personnel would greatly benefit and learn from Mr. Baldwin’s experience in anti-money laundering. 

Advertisement