| Donor |
European Commission |
| Project Code |
ASIA/2004/016-968 |
| Name of Project |
Anti-Money Laundering Project |
| Implementing Agency |
EC delegation (centralized procedures)GoP agencies involved: Anti-Money Laundering Council (AMLC) and Bangko Sentral ng Pilipinas (BSP) Institute |
| Funding |
Grant |
| Total Funding |
1,068,000 |
| Grant/Loan |
961,000 |
| GoP Counterpart |
107,000 |
| Start Date |
April 2008 |
| Completion Date |
30 September 2008 |
| Project Location |
Manila |
| Beneficiaries |
Philippine population in general and financial sector in particular |
| Sector |
Good Governance -Institutional capacity/ Stability |
| European Consultant |
B&S Europe |
| Project Background/Rationale |
The Government of the Philippines (GoP) requested the inclusion of activities aimed at combating terrorism during the revision of the 2002-2004 National Indicative Programme (NIP). The proposed intervention is compatible with the countrys development strategy as it is likely to contribute to the improvement of the governance situation in the country. Strong ownership and political support of the measure has been shown by the national authorities at the highest level. During the identification there was continuous dialogue with the EU Member States, the majority of active other donor-countries and donor/IFIs involved.
Money laundering was addressed by the government and the private sector, with the entry into force of the Anti-Money Laundering Act (AMLA) in 2001 criminalizing money laundering. The AMLA has indeed been the legal basis for the setting-up of the Filipino Financial Unit (FIU), in form of the Anti-Money Laundering Council (AMLC). Capacity-building and institutionalized training coordinated by AMLC should be effective ways to increase AML public awareness and expertise of staff from the Supervising Authorities, the Covered Institutions (financial sector), Judicial and Law Enforcement Institutions. In August 2004, AMLC requested EC assistance in this respect. |
| Project Objective |
To prevent and reduce money laundering by strengthening the institutional capacity of the Philippines Financial Intelligence Unit (Anti-Money Laundering Council/AMLC) and by enhancing the co-operation of the Supervising Authorities, Covered Institutions (financial sector), Judicial and Law Enforcement Institutions with the AMLC |
| Project Components |
-
Institutional
strengthening of AMLC through the training
of 10 selected staff from the AML-related GoP institutions to become AML
trainers (COMPONENT TRAINING OF TRAINERS)
-
Increased capacity of 450
staff members from the Supervising Authorities (70), Covered Institutions
(financial sector) (230), Judicial and Law Enforcement Agencies (90), and
civil society (60) through training (COMPONENT AML TRAINING PROGRAMME)
|
| For further Information Please Contact |
Ms.
Eva Pastrana
Telephone (63 2) 859 5141
Fax (63 2) 859 5100
Email: Eva.PASTRANA-GUTIERREZ@cec.eu.int
|
