- AMLC Executive Director Julia Bacay-Abad has quit her post
- Abad said she resigned to give the agency a chance to renew its strength with a new leadership
- She has been working with AMLC for 10 years
MANILA, Philippines – The Executive Director of the Anti-Money Laundering Council (AMLC), Julia Bacay-Abad has resigned from her post effective Tuesday, January 31.
Abad’s resignation came on the heels of President Rodrigo Duterte’s allegation that the council is not cooperating in government’s fight against money laundering.
In a statement released to the media, Abad said she quit her job to give the agency a chance to renew its strength with a new leadership.
“The recent developments that confronted the AMLC and its Secretariat gave me the occasion to realize that, though already resilient on its own, the AMLC Secretariat will be accorded with renewed strength through a transformed strategy,” Abad’s statement read.
“This is not a decision that was taken lightly but I believe that this is the right time for me to voluntarily relinquish my post as the Executive Director of the Anti-Money Laundering Council Secretariat effective 31 January 2017,” she added.
Abad served for 10 years with the AMLC and it was during her time that the country came under scrutiny from international financial institutions following the controversial $81-M electronic heist that involved the Rizal Commercial Banking Corporation.
Justice Secretary Vitaliano Aguirre also accused the AMLC of not acting on their request to investigate Senator Leila De Lima’s alleged multi-million bank accounts.
In the same statement, Abad said she is ‘deeply honored and humbled’ by her decade-long experience working with AMLC and that her loyalty to the country remains solid.
“To be more effective, the direction that the AMLC Secretariat will prospectively take would have to come from a new leadership,” she said.