ARCCO has signed Information Sharing Protocol (ISP) Agreement with Anti-Money Laundering Council (Philippines)

The Association of Remittance Company Compliance Officers (ARCCO) recently signed an Information Sharing Protocol (ISP) Agreement with the Philippines Anti-Money Laundering Council for information exchange and capacity building program to help the government in its effort to prevent and combat financial and terrorism crimes in the country.
The Information Sharing Protocol Agreement aims to facilitate a cooperative framework within which the AMLC and the members of ARCCO will work together to achieve the objectives of the ISP, namely: to promote and encourage cooperation and coordination to effectively prevent, control, detect and investigate money laundering terrorism, and financing of terrorism in the Philippines; to collaborate in the areas of information exchange and capacity building measures to enhance the ability of AMLC and ARCCO in addressing money laundering terrorism and financing terrorism concerns; and to institutionalize an effective documentation mechanism able to perform targeted suspicious transaction monitoring and reporting and to develop valuable breakthrough investigative leads.
The ISP agreement to combat financial and terrorist crimes was signed on October 06, 2021 by the AMLC Executive Director Atty. Mel Georgie Racela, Chairwoman Atty. Irene I. Torres and President Atty. Guadalupe Lyn Vergel De Dios of ARCCO. Witnesses to the accord signing were the Acting Deputy Director of the Commitments and Policy Group of the AMLC Atty. Mary Joy Gache-Marasigan and ARCCO Vice President, Ms. Marie Joyce Orgasan.
The signing of the ISP represents another chapter of a stronger collaboration and information sharing between the Association of Remittance Compliance Officers and the AMLC to ensure the safe conduct of financial transactions and the prevention of financial crimes in the country. Aside from financial fraud, the ISP between AMLC and ARCCO can help mitigate other crimes including online sexual abuse and exploitation of children, human trafficking, swindling, illegal online games, investment and donations scams, among others.
The ceremonial signing of the bilateral agreement was attended by the officers from the AMLC: Acting Deputy Director of the Prevention and Detection Department, Atty. Arnold T. Kabanlit and Atty. Allan Julius B. Azcueta, Bank Officer V of the Commitments and Policy Group. Also present in the online event were ARCCO Members: Ria Money Transfer, Palawan Pawnshop Express Pera Padala, Cebuana Lhuillier, LBC, MLhuillier, CIS Bayad Center, Western Union, Moneygram International, LMI Express Delivery Inc., Paymaya Philippines, and CBCI.
The Association of Remittance Company Compliance Officers Philippines Incorporated (ARCCO) is a non-stock, non-profit organization of Compliance Officers of Money Service Business comprising of 75% of registered MSBs operating in the Philippines.