The Monetary Board has confirmed the appointment of Mel Georgie Racela as executive director of the Anti-Money Laundering Council (AMLC). The AMLC recently also adopted rules on the imposition of administrative sanctions on covered persons, with casinos now deemed covered under the amended Anti-Money Laundering Law. “Racela’s vision is for the AMLC Secretariat to be a world- class FIU (financial intelligence unit) that takes an active role in enhancing financial system integrity,” the council said. Before joining the AMLC Secretariat, Racela was deputy director for the Special Projects and Reports Group of the Office of Supervisory Policy Development. He also holds a Masters of Law in International Legal Studies from the Georgetown University Law Center in Washington, D.C.

Source: Manila Times September 01, 2017 17:26 UTC