Sterling Bank of Asia (SBA) signs an Information Sharing Protocol (ISP) Agreement with the Anti-Money Laundering Council (AMLC) to support government measures to combat financial crimes in the country.
The ISP framework aims to effectively control, detect, and investigate money laundering (ML), terrorism, and financing of terrorism (FT) in the country. It will also cover information exchange and capacity-building measures to enhance the ability to address ML, terrorism, and FT concerns. Further, the ISP aims to institutionalize an adequate documentation mechanism to perform targeted suspicious transaction monitoring and reporting, as well as develop valuable/breakthrough investigative leads.
โThis is in line with the Bankโs efforts in promoting a strong and good corporate governance culture,” said Cecilio San Pedro, SBA’s President and CEO.
SBA recognizes the importance of the collaboration between the public and the private sector in upholding a framework that will deliver a more efficient and effective identification and detection of financial crime patterns and trends. “Sterling Bank will extend its full cooperation in the exchange of information and financial intelligence and full support in the capacity-building measure of AMLC,โ said San Pedro.
For more information and updates about Sterling Bank of Asia, visitย www.sterlingbankasia.comย and download the Sterling Bank Online App to experience secure and convenient banking.
REFERENCE:
Lariza Garcia
