KEY TAKEAWAYS: PHILID: One ID to Rule it All
The Association of Remittance Compliance Officers – Philippines (ARCCO) hosted a Webinar on Philippine Identification System (PhilSys) or Republic Act No 11055 in cooperation with Philippine Statistics Authority (PSA). Around 260 plus compliance professionals from the remittance industry and other covered entities attended the insightful and informative webinar on PhilSys and the PhilID.
The webinar took place on July 15, 2021 from 2p.m. to 4p.m., and featured a resource speaker Mr. Marcos Ryan Laurente from the Philippine Statistics Authority. He heads the development of use cases for the Philippine Identification System (PhilSys), a Project for the Philippine Statistics Authority.
Mr. Laurente, discussed the Philippine Identification System (PhilSys) Act, also known as Republic Act No. 11055. which aims to establish a single national identification system for all citizens and resident aliens of the Republic of the Philippines. Signed into law by President Rodrigo Roa Duterte in August 2018, the valid proof of identity provided by the PhilSys shall be a means of simplifying public and private transactions, and shall be a social and economic platform that promotes seamless social service delivery and strengthening of financial inclusion for both public and private services. Further the speaker explained that, as a foundational digital ID system, the PhilSys will transform how services are delivered and accessed in the Philippines, and accelerate our transition to a digital economy, including enable paperless and cashless transactions.
The speaker also gave an overview of the registration process for Philsys, which is broken down into three main phases, namely: collection of demographic data and appointment setting, then the validation of demographic data and capture of biometric information, and lastly the issuance of the PhilSys Number (PSN) and the PhilID. He explained the different modes with which individuals can register, as well as the different requirements and steps registrants will need to take for each phase of the process. The speaker highlighted that under RA 11055, the PhilID card shall serve as the official government-issued identification document of cardholders in dealing with all national agencies, local government units, government-owned and controlled corporations, government financial institutions, state colleges and universities and all private sector entities including banks, remittance companies, pawnshops, and electronic money issuers, among others. The speaker reminded that under Section 19 of RA No. 11055, any establishments who refuse to accept the PhilID as a valid proof of identification will be subject to a fine of an appropriate amount in compliance with the PhilSys Act.
Following were the important points discussed by Mr. Laurente in the webinar:
· Requirements under RA 1105?
· What it is and how to obtain one?
· How will it help financial institutions and what does it mean to be a relying party.
· How will it prevent fraud?
The webinar ended with an open forum for the participating registrars’ questions and clarifications. The open forum was moderated by Atty. Guada Vergel de Dios, President and Atty. Irene Victoria I. Torres, Chairman of the Association of Remittance Company Compliance Officers. Participants who attended the webinar live received a participation certificate.
For the latest on PhilSys, visit the official PhilSys webpage (www.psa.gov.ph/philsys).
To stay up to date with free webinars and resource materials on the latest regulatory and financial crime hot topics, please visit ARCCO website at http://www.arccoph.com/ or follow us at Facebook, Twitter and LinkedIn. For membership, please email at info@arccoph.com.
