AMLC announces temporary executive director

Following the resignation of Anti-Money Laundering Council (AMLC) executive director Julia Bacay-Abad, the Philippine financial intelligence unit on Tuesday announced a new official to temporarily take over the position.

“In the meantime, BSP Officer-in-Charge Diwa C. Guinigundo in his capacity as AMLC OIC has appointed CPA-lawyer Mel Georgie B. Racela as Office-in-Charge of the AMLC Secretariat,” it said in an emailed statement.

Racela was reassigned from the BSP’s Supervisory and Examination Sector where he currently holds the position of BSP Deputy Director for Special Projects and Reports under the Office of Supervisory Policy Development.

“Atty. Racela will be AMLC’s OIC from 1 February to 31 July 2017,” the AMLC said.

Prior to his appointment, Racela headed the AML Specialist Group of the BSP.

He earned his Bachelor’s Degree in Commerce, major in Accounting, from the De La Salle University, and obtained his Bachelor of Laws degree from San Beda College.

He also obtained his Master of Laws in International Legal Studies from Georgetown University Law Center in Washington D.C., USA.

Abad announced her resignation from the agency on Monday, effective January 31, 2017.

This comes after President Rodrigo Duterte said AMLC officials should resign, even as he accused them of protecting money launderers and drug suspects. — MDM, GMA News