[FEATURING] PayMaya, AMLC ink deal to address financial crimes

Digital payments firm PayMaya Philippines, Inc. announced on Thursday that it had signed a partnership agreement with the Anti-Money Laundering Council (AMLC) to help the government in addressing financial crimes.

AMLC and PayMaya signed an information-sharing protocol agreement, which will serve as a bilateral agreement and cooperative framework “to prevent and mitigate financial crimes in the country,” the digital financial services company said in an emailed statement.

Under the agreement, AMLC and PayMaya will work together on information-sharing and capacity building. 

PayMaya said the collaboration aims to “strengthen the integrity” of the country’s financial system.

The information-sharing protocol agreement, PayMaya also noted, can help address other crimes such as online sexual abuse and exploitation of children, human trafficking, terrorism financing, swindling or estafa, and donation scams, among others.

PayMaya is a subsidiary of Voyager Innovations, Inc., the digital innovations company of PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin