Financial Crime World

Head of Anti-Money Laundering Council (AMLC) Changes Over the Years

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The Anti-Money Laundering Council (AMLC), a key agency in the country’s fight against financial crimes, has had several heads since its inception. The council is responsible for implementing and enforcing laws related to money laundering and terrorist financing.

History of Heads

According to records, Amando M. Tetangco Jr. was the first head of the AMLC, serving from July 2005 to July 2011. He was succeeded by Nestor Espenilla Jr., who took over in July 2017 but resigned in February 2019 due to health reasons.

  • Benjamin Diokno then took the helm, serving until June 2022 when he was replaced by Felipe Medalla.
  • The current head of the AMLC is Eli M. Remolona Jr., who assumed the position on June 30, 2023.

Deputy Heads and Executive Directors

The council has also had several deputy heads and executive directors over the years, including:

  • Atty. Vicente S. Aquino
  • Atty. Julia C. Bacay-Abad
  • Atty. Mel Georgie B. Racela
  • Atty. Matthew M. David

Responsibilities

The AMLC is responsible for implementing laws related to money laundering and terrorist financing, as well as investigating and prosecuting cases involving these crimes. The council has also been involved in international efforts to combat financial crimes.

Organizational Structure

The AMLC is headed by a council, which is comprised of representatives from various government agencies. The council is responsible for setting policy and providing overall direction to the agency.

The AMLC has three major operational units:

  • Office of the Executive Director (OED): Responsible for providing administrative support to the agency.
  • Detection and Prevention Department (DPD): Focuses on detecting and preventing money laundering and terrorist financing.
  • Investigation and Enforcement Department (IED): Responsible for investigating and enforcing laws related to these crimes.

Laws and Rules

The AMLC operates under a number of laws and regulations, including:

  • Republic Act No. 9160 (Anti-Money Laundering Act) and its subsequent amendments.
  • Implementing rules and regulations provided by the agency.
  • Guidelines and procedures developed by the AMLC to help businesses and individuals comply with anti-money laundering and counter-terrorism financing requirements.

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