philippines ’ aml / cft regime. the anti - money laundering act of 2001, as amended, mandates the amlc to develop educational programs on the harmful effects of money laundering, the methods and techniques used in money laundering, the viable means of preventing money laundering and the effective ways of prosecuting and punishing offenders. ladies and gentlemen. the philippines has been making big strides in having a robust legal aml / cft framework. following the enactment by our legislators of the anti money laundering act, we have : • criminalized money laundering • created the anti - money laundering council as the philippines ’ financial intelligence unit • established the mandatory obligations for covered institutions relative to the requirements on customer due diligence, record keeping, and the reporting of covered and suspicious transactions • enforced mutual legal assistance and cooperation ; and finally, • instituted a civil forfeiture system in addition, the supervising authorities have issued circulars and guidelines to covered institutions regarding correspondent banking, politically exposed persons, wire transfers, alternative remittance systems, as well as cross border transportation of currency, and un security council resolutions on designated terrorist individuals and organizations. as of today, we have one successful money laundering conviction and 37 money laundering cases pending before the regional trial courts, the ombudsman, and the department of justice. and there are other charges we are preparing to file in our courts. however, we do face new challenges from globalization and the internationalization of money laundering and terrorist financing techniques. in addition, new and evolving technologies and financial systems are being used by money launderers to weave a complex trail that is difficult to find and unravel. as money launderers continue to refine their techniques and find new avenues for their illicit operations, so must we work together to fortify our defenses to prevent or stop them. otherwise, we risk having a threat to the reputation and viability of our financial system. it is in this context that we have been proactive in the philippines. the anti money laundering council, which i chair, has taken important initiatives to broaden the philippines ’ aml / cft strategy, to intensify its position as a partner of the global community in the fight against money laundering and terrorist financing, and to align our aml / cft regime with the international standards of the fatf. on the other hand, as the international watchdog on aml / cft issues, the financial action task force, has issued the fatf 40 + 9 recommendations

amando m tetangco, jr : excellence in communication at a strategic level speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( the central bank of the philippines ), at receiving the international association of business communicators ( iabc ) 2013 ceo excel lifetime achievement award, manila, 25 july 2013. * * * the officers and members of iabc under the leadership of chair elpi cuna and iabc president ritzi ronquillo, distinguished fellow awardees, special guests, friends, good evening. i am deeply honored to receive the 2013 ceo excel lifetime achievement award and for this i thank the iabc. in your letter informing me of this award, you described the awardees as belonging “ to the select group of outstanding national and industry leaders who epitomize management competence and excellence in communication at a strategic level ; a leader for good governance and responsible corporate citizenship who inspires others to serve for the greater good. ” ladies and gentlemen. i have been a central banker for 39 years now, of which eight years have been spent at the helm of the bangko sentral ng pilipinas as governor and chairman of the monetary board. and to this day, i still find my work challenging, meaningful and fulfilling. indeed, i have always felt it is a privilege being given the opportunity to serve our people and our country as a public servant. across the country, the commitment to serve runs deep at the bsp – from our 18 branches, three regional offices to our security plant to our manila head office. i therefore share this award with my colleagues, whose drive to excel is motivated by the singular vision of achieving a better life for filipinos through sound monetary and banking policies. at all times, we are conscious that what we do or what we say can affect millions of filipinos for the better or not. in this connection, we make sure that two - way communication is maintained with our various constituents. among others, the bangko sentral has maintained a consultative process given that concerns of financial markets have become broader in breadth and deeper in consequence. clearly, we cannot afford a unilateral approach ; even if we do not agree on every policy detail, we continue to find ways to address issues together. with open channels of communication the bangko sentral and the banking sector continue to evolve in response to the needs of our growing economy. today, our banking sector is sound,