E-Kamustahan with ED Racela

ARCCO MEMBER EVENT

RA 11521 “An Act Further strengthening the Anti-Money Laundering Act” was signed into law last January 29, 2021 amending key provisions of the Anti-Money Laundering Act.

Under the amendments, list of covered persons was expanded to include real estate developers and brokers, Offshore Gaming Operators and service providers of offshore gaming operators. The Act also expanded the functions and powers of the AMLC to implement targeted financial sanctions.

On April 21, 2021, ARCCO members will have a chance to discuss these changes and other updates with Executive Director Racela.