BSP’s Monetary Board cancels registration certificates of two remittance agents

The Monetary Board has canceled the certificates of registration Edzen Enterprises and World Wide Money Changer for violating the Anti-Money Laundering Act, the central bank said Tuesday.

Edzen and World Wide Money are registered as remittance agents, foreign exchange dealers and money changers, the Bangko Sentral ng Pilipinas said in a statement.

Edzen Enterprises and World Wide Money are “sole proprietorships owned by Ms. Zenaida M. Artuz and Mr. Elliot M. Artuz, respectively,” according to the central bank.

“The cancellation was due to significant violations of their Deeds of Undertaking, specifically on the commitment to strictly comply with Republic Act No. 9160 (Anti-Money Laundering Act), as amended, and its Revised Implementing Rules and Regulations, and the minimum procedures on the sale and purchase of foreign currencies by money changers/foreign exchange dealers and the transactional requirements for large value payouts by remittance agents/money changers/foreign exchange dealers,” the central bank said. 

The Monetary Board is the policy-setting body of the central bank. —VDS, GMA News