SGV Financial Services Organization (FSO) and Financial Crime Risk Management (FinCrime) Partner Veronica Mae Arce Balisi was a resource speaker at the Philippine Association of Real Estate Boards – Pasay-Makati Realty Board, Inc. (PAREB-PMRB) Anti-Money Laundering and Counter Terrorist and Proliferation Financing (AML/CTPF) training held on 19 March 2024 at Paseo de Magallanes in Makati City.
SGV FSO FinCrime Partner Veronica Mae Arce Balisi (second from left, seated) with PMRB President Glorie Marie Sy (third from right) and other PAREB-PMRB members
PMRB President Glorie Marie Sy delivered the welcome remarks and introduced Veronica as the resource speaker. The training session covered key topics such as AML/CTPF, the importance of compliance with the Anti-Money Laundering Act (AMLA) and related regulations and the responsibilities of Real Estate Brokers (REBs) and Real Estate Developers (REDs) as covered persons.
Veronica provided an overview of the vulnerabilities faced by REBs and REDs under AMLA. She also detailed the registration process, including the steps necessary for the submission of required documentation and compliance with regulatory mandates.
Veronica was joined by FSO Director Anne Mariel Lagao, and Associates Alech Nicole Margallo, Rod Aderick Elauria, Ma. Tiffany Atis, and Charisse Panisales.
Veronica (center) with SGV representatives, PAREB-PMRB members, and other training attendees
In concluding the session, Veronica encouraged real estate brokers and developers to register as covered persons. She also urged them to become advocates for AMLA to aid in the fight against money laundering within the real estate industry. She highlighted the importance of recognizing the risks and understanding the red flags associated with money laundering activities, as well as the role of brokers in reporting suspicious transactions.
