Tag Archives: anti-money laundering
- Philippine AML threshold for gaming operators too high?
June 20, 2017
The Philippines’ proposed threshold for casinos to report suspicious transactions is too high to satisfy international financial watchdogs, according to the head of the country’s stock exchange. Last month, both chambers of the Philippine legislature unanimously approved plans to add the nation’s gambling operators – land-based, shipboard and online –...
- Philippine casinos one signature away from new AML rules
May 30, 2017
Philippines-based gambling operators are but one presidential signature away from new anti-money laundering requirements. On Tuesday, the Philippine Senate unanimously approved the third reading of Senate Bill 1468, which seeks to include gambling operators – land-based, online and shipboard – as well as junket operators as ‘covered persons’ under the...
- New AML rules for Philippine casinos, online gaming operators
May 26, 2017
Casinos and online gambling operators in the Philippines are one step closer to facing new anti-money laundering (AML) requirements as legislators seek to rein in the industry’s freewheeling reputation. On Wednesday, the Philippine Senate approved the second reading of SB 1468, which will bring casino operators under the Anti-Money Laundering...
- New EU draft law seeks to monitor bitcoin users
March 15, 2017
Members of the European Parliament (MEPs) continue to seek to end bitcoin's anonymity. Last week, the parliament drafted a new proposal that seeks to extend the scope of the Anti-Money Laundering Directive (AMLD), published in May 2015, to include virtual currencies like bitcoin. The proposal states that "competent authorities should...
- DOJ schools Saipan regulators on anti-money laundering rules
February 9, 2017
US Department of Justice officials are educating Saipan’s gaming regulators on anti-money laundering compliance just as the island’s lone casino is posting record VIP gambling turnover numbers. Saipan is part of the Northern Mariana Islands, a US Commonwealth, which gives the DOJ authority over its legal mechanisms. Monday saw the...
- Lawmakers move closer to including Philippine casinos in AML laws
February 8, 2017
Lawmakers in the Philippines are a step closer to including casinos in the covering of the Anti-Money Laundering Act (AMLA). This week, Rep. Ben Evardone, chairman of the committee on banks and financial intermediaries, confirmed that his panel has "agreed in principle to endorse the inclusion of casinos in the...
Okada Manila eyes Philippine backdoor listing
May 2, 2017