CEZA AML Masterclass: Enhancing Compliance, Combating Crime

The organizers, facilitators, and participants of the CEZA AML Masterclass gather for a photo opportunity to celebrate the successful conclusion of their insightful and engaging two-day training.

The Cagayan Economic Zone Authority (CEZA) successfully conducted a two-day hybrid Anti-Money Laundering Masterclass on November 11-12, 2024, aimed at enhancing compliance with Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Counter Proliferation Financing (CPF) measures.

The AML Masterclass was facilitated by the AML Consulting PH and AML Research Center Asia Pacific (ARCAP), in collaboration with the CEZA Anti-Money Laundering (AML)/ Countering the Financing of Terrorism (CFT) TWG.

Participated by 24 CEZA-covered persons, the workshop was designed to strengthen compliance capacities and foster adherence to global AML/CFT/CPF standards. The event featured a theoretical online session on day one and a hands-on, face-to-face writing workshop on day two held at the Old Swiss Inn Restaurant in Makati City.

Day 1: Theoretical Insights and Risk Analysis

The first session included a welcome address by Atty. Gene Ross L. Castillo, from CEZA’s AML/CFT Task Force Technical Working Group (TWG). Atty. Rainier Dela Fuente, CEO of AML Consulting PH, delivered an in-depth discussion on AML/CFT/CPF fundamentals, emphasizing customer identification, transaction reporting, record keeping, and enforcement actions.

Participants were grouped into breakout rooms to analyze case studies, identify money laundering risks, propose mitigation strategies, and present their findings. The session concluded with an interactive discussion on improving participants’ current AML setups.

Day 2: Practical Applications and Policy Drafting

The second day focused on drafting Money Laundering and Terrorist Financing Prevention Programs (MTPP). Participants conducted simulations and risk assessments tailored to their operations, learning to identify vulnerabilities and implement preventive measures.

Discussions covered AML regulations, including the 2018 IRR of R.A. 9160, enforcement action guidelines, and suspicious transaction indicators. The writing exercises helped participants strengthen their Institutional Risk Assessments (IRA) and compliance frameworks.

Commitment to Financial Integrity

CEZA’s Deputy Administrator for Operations, Atty. Marichelle De Guzman, reaffirmed the agency’s dedication to combating financial crimes. “As an Appropriate Government Agency, CEZA is committed to supporting the Philippines’ efforts to exit the FATF Grey List and deter financial crimes like money laundering and terrorism financing,” she said.

The event underscores CEZA’s commitment to equipping stakeholders with the tools and knowledge necessary to maintain a secure and compliant economic zone.

The AML Masterclass was facilitated by AML Consulting PH and the AML Research Center Asia Pacific (ARCAP), led by Atty. Rainer Dela Fuente.

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