Financial Crime World

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Escobillo: The Evolution of Leadership in the Anti-Money Laundering Council

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From October 2005 to August 2007, Escobillo led the Anti-Money Laundering Council (AMLC), a critical agency tasked with combating financial crimes and protecting the country’s financial system. During his tenure, Escobillo played a crucial role in shaping the AMLC’s policies and strategies.

Amando M. Tetangco Jr.: The Longest-Serving Head

In July 2005, Amando M. Tetangco Jr. took over as the head of the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, a position he held until July 2011 and again from July 2017 to May 2020. Tetangco is credited with implementing various reforms aimed at strengthening the financial sector and enhancing consumer protection.

Vicente S. Aquino: A Seasoned Leader

From May 2002 to March 2013, Vicente S. Aquino served as the Executive Director of the Anti-Money Laundering Council (AMLC). During his tenure, Aquino played a key role in shaping the AMLC’s policies and strategies.

Julia C. Bacay-Abad: A Champion for Financial Transparency

From March 2013 to January 2017, Julia C. Bacay-Abad served as the Executive Director of the Anti-Money Laundering Council (AMLC). Abad was instrumental in promoting financial transparency and combating money laundering.

Mel Georgie B. Racela: A Seasoned Financial Expert

From February 2017 to August 2022, Mel Georgie B. Racela served as the Executive Director of the Anti-Money Laundering Council (AMLC). Racela is a seasoned financial expert with extensive experience in the field of anti-money laundering.

Matthew M. David: The Current Leader

Since August 2022, Matthew M. David has been serving as the Executive Director of the Anti-Money Laundering Council (AMLC). Under his leadership, the AMLC continues to evolve and adapt to the changing financial landscape.

Key Laws and Rules

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The Anti-Money Laundering Council is governed by various laws and rules, including:

  • Republic Act No. 9160
  • Republic Act No. 9194
  • Republic Act No. 10167
  • Republic Act No. 10365

The AMLC also implements various implementing rules and regulations, such as:

  • 2016 Revised Implementing Rules and Regulations of Republic Act No. 9160
  • 2018 Implementing Rules and Regulations of Republic Act No. 9160

Conclusion

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The Anti-Money Laundering Council has undergone significant changes in leadership over the years. From Escobillo to Tetangco, Aquino, Abad, Racela, and David, each leader has brought their unique expertise and experience to the table, shaping the AMLC’s policies and strategies. As the agency continues to evolve, it remains committed to combating financial crimes and protecting the country’s financial system.