Articles -AMLA Refresher Training 2017
LBC Continuously Strengthens Initiatives to Prevent Money Laundering
MANILA, PHILIPPINES:
LBC Express, Inc. continues to make the fight against money laundering
and terrorist financing a priority.
Their initiatives are driven by the goal of ensuring
the integrity and stability of the company and the well-loved brand, in the
context of how it impacts the nation’s economy and the millions of Filipinos it
serves across the globe.
“Money laundering activities can significantly
undermine the reliability that LBC Express has taken years to build. Beyond
that, it will obviously will have a destabilizing spillover effect on the
country’s economy,” explains Mike A. Camahort, President and COO of LBC
Express, Inc. “And in an increasingly interconnected world, the consequences of
ignoring its impact on the global financial and security landscape can prove to
be very damaging,” he added.
To that end, members of LBC’s senior management team led
by Board Chairperson and Chief Executive Officer, Santiago G. Araneta, together
with Camahort and the rest of its executive committee, joined the Annual
Anti-Money Laundering (AML) Refresher Training held last February 16 at the Marriott
Manila Hotel.
LBC Express, Inc. Senior
Management Team at the AML Refresher Training conducted by (AMLC) Anti-Money
Laundering Council at the Marriott Manila Hotel
AML training, for management teams and employees is a requirement
by the Bangko Sentral ng Pilipinas for companies to offer money services such
as remittance. As one of the leading money remittance brands in the country,
LBC Express plays a critical role in preventing money laundering and terrorist
financing in the country. To that end, LBC heads came together to gain insight
from Anti-Money Laundering Council (AMLC), a government agency tasked to
implement laws and regulations regarding this matter.
This is another concrete step towards ensuring the
safety and security of transacting with LBC and consistently providing
customers with the best possible service.
“Our continuous involvement in such initiatives
hopefully speaks of LBC’s commitment to ensure the safety of the millions of
senders and receivers who depend on LBC, and guarantees the integrity of this
brand,” says Atty. Irene Torres, Head of LBC Express, Inc.’s Anti-Money Laundering
Compliance Team.
Following the leadership team’s training, LBC Express
is scheduled to cascade the AMLA Refresher Training for the rest of the
organization beginning April, with the goal of ensuring one hundred percent
compliance for the training by September 2017.