The Anti-Money Laundering Council (AMLC) on Tuesday said it respects the decision of the council’s Executive Director Julia Bacay-Abad to step down after 11 years “of dedicated service.”
The AMLC in a statement said Abad was at the forefront of investigations and prosecution of cases related to money laundering and terrorist financing as head of the AMLC Secretariat (AMLCS).
Abad joined the AMLCS on February 1, 2006 as Head of the Legal Services Group with the rank of deputy director. Before joining the council, she served at the Office of the Solicitor General as State Solicitor and the Court of Appeals. She completed her Bachelor of Laws at the University of Sto. Tomas and Bachelor of Science in Mathematics as a full scholar at the Ateneo de Manila University.
In a statement explaining her resignation, Abad said “recent developments that confronted the AMLC and its Secretariat gave me the occasion to realize that, though already resilient on its own, the Secretariat will be accorded with renewed strength through a transformed strategy. To be more effective, the direction that the Secretariat will prospectively take would have to come from a new leadership.”
Bangko Sentral ng Pilipinas (BSP) Officer-in-Charge Diwa C. Guinigundo, in his capacity as AMLC officer-in-charge, named Mel Georgie Racela as Officer-in-Charge of the AMLC Secretariat.
Racela, deputy director of the BSP’s Supervisory and Examination Sector, will be AMLCS OIC from February 1 to July 31, 2017.