Date : 2/17/2021 7:33:27 AM
From : "IMMR"
To : "michalko@justice.gov.il"
Subject : STUDIES CONDUCTED BY AMLC
Attachment : 2020 RISK ASSESSMENT ON LEGAL PERSONS - EXECUTIVE SUMMARY-3.pdf;





-------- Forwarded Message --------
Subject: STUDIES CONDUCTED BY AMLC
Date: Tue, 16 Feb 2021 14:25:28 +0800
From: AMLC <amlc@egmont.org>
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Dear Colleagues:

We are sharing the executive summary versions of the following studies conducted by the Anti-Money Laundering Council (AMLC):
1.    A Money Laundering/Terrorist Financing Risk Assessment on Legal Persons and Other Business Entities (LP RA); and
2.    2021 Terrorism and Terrorism Financing Risk Assessment (T/TF RA), pursuant to EGMONT Group’s Principles for Information Exchange between FIUs.

The executive summary versions of the two (2) studies contain the general findings, typologies, recommended actions and other basic elements of the risk assessments.

The LP RA takes a collective approach in assessing how legal persons and other business entities, facilitate the concealment of illegally obtained proceeds and assets.  Data analysis from suspicious transaction reports (STRs), cases and investigations, and trend analysis from published reports shows that sole proprietorships and corporations, primarily those engaged in wholesale/retail and general trade, are among being utilized for ML activities.

On the other hand, the T/TF RA is an update to the Second National Risk Assessment, particularly on the understanding and assessment of terrorism and TF risks in the country. The T/TF RA also determines the direction of risks based on the emerging and current issues as well as significant developments undertaken domestically and internationally relative to combating terrorism and TF.

Said risk assessment documents are designed to serve as a tool to inform our AML/CFT partners on the risks involving legal persons and other business entities in the Philippines as well as for the development of government counter-terrorism and countering the financing of terrorism policies for supervisors, financial institutions and law enforcement and intelligence agencies, specifically as regards their risk-based strategies.

Thank you and best regards,

For the Executive Director, AMLCS

Alvin L. Bermido
Deputy Director
Commitments and Policy Group
AMLC Secretariat