{"id":13143,"date":"2024-12-15T16:14:52","date_gmt":"2024-12-15T16:14:52","guid":{"rendered":"http:\/\/theboholtimes.com\/?p=13143"},"modified":"2024-12-22T17:10:26","modified_gmt":"2024-12-22T17:10:26","slug":"cooperative-board-meetings-and-seminars-mental-health-management-protocol","status":"publish","type":"post","link":"https:\/\/theboholtimes.com\/?p=13143","title":{"rendered":"Cooperative Board Meetings and Seminars
(Mental Health Management Protocol)<\/i>"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

COOPERATIVE board meetings are essential to the effective governance and decision-making procedures of cooperatives. There is debate and decision-making over important issues, regulations, and strategic objectives.<\/p>\n\n\n\n

There is also that monitor management by keeping an eye on finances, operations, and output, check for compliance with laws, policies, and bylaws, respond to concerns, and make recommendations on behalf of members. The key items on the agenda are: financial reports and budgets, setting objectives and making strategic plans, upgrades and operational issues, acceptance and adjustments to policy, elections of officers and committee members, interaction and participation of members, and regulatory compliance updates.<\/p>\n\n\n\n

The National Teachers Bank and Employees Cooperative Bank held its Board Meeting on December 14, 2024 at Surestay Hotel, Osmena Boulevard, Cebu City. Vice Chair Lorna E. Rances led the opening prayer.<\/p>\n\n\n\n

Chair Recaredo G. Borgonia expressed his words of gratitude to the members of the Marketing Committee for the efforts exerted for the additional capitalization for\u00a0the bank.<\/p>\n\n\n\n

The board meeting was conducted in the morning. In the afternoon, Anti-Money Laundering (AML) Seminar was conducted facilitated by Atty Mickel M. Borigas from BANGKOOP, Manila. Atty Borigas gave emphasis on the staged of AML: 1) placement, 2) layering, and 3) integrating.<\/p>\n\n\n\n

AML is aimed to avoid that the illegitimate will become legitimate. Concepts of Terrorism Financing was also discussed. TF is the act of providing funds or resources to support terrorist activities. The primary goal is to fund acts of terrorism recruitment, training, or other related operations. The source may be legal or illegal. Distinctions between AML and TF were discussed by Atty Borinaga. AMLA focuses on concealing the origin of illicit funds and reintegrating them into the economy as legitimate assets. TF emphasizes funding terrorist activities regardless of whether the money comes from legal or illegal sources. AMLA proceeds from illegal sources. Flow of funds seeks to disguise illicit origin by layering and integrating them into the financial system.\u00a0<\/p>\n\n\n\n

TF can involve both legal and illegal sources. TF directs funds towards facilitating criminal acts, often with little effort to conceal the origin.<\/p>\n\n\n\n

The connection between TF and organized crime lies in their shared methods, mutual benefits, and overlapping networks. Terrorist groups often rely on organized crime to fund operations, smuggle goods or personnel and evade detection. Similarly, organized crime groups collaborate with terrorists to protect their illegal activities and gain operational advantages.<\/p>\n\n\n\n

There are five identified risks concerning AML and TF: economic, reputational, regulatory, and operational risks. The identified impacts were also discussed: global security threats, erosion of financial integrity, economic instability, and undermined governance. <\/p>\n\n\n\n

Financial institutions, need to consider on the sources, utilization of funds, and the daily operations with their clients. The most important consideration is the concept of KYC (Know Your Customer).<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

COOPERATIVE board meetings are essential to the effective governance and decision-making procedures of cooperatives. There is debate and decision-making over important issues, regulations, and strategic objectives. 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