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.