Philippines gets taken off APG radar

The Philippines has avoided further scorn from the Asia-Pacific Group on Money-Laundering following "significant compliance" in tightening their AML regulations.

The APG on its website said it removed the Philippines from “APG membership action” after the government reported that President Rodrigo Duterte signed the casino bill into law in the latest meeting in Sri Lanka.

The Financial Action Task Force has also removed the Philippines from its list of jurisdictions that it deemed “vulnerable” to money laundering, and asked the government to work with APG to further strengthen its regulations.

More news from this jurisdiction

PhilippinesThursday, Mar 22, 2018

The Philippines eGames industry is expected to grow significantly in the years ahead, with expansion likely to be seen in floor space, rather than in venue numbers, said a panel of experts at ASEAN Gaming Summit.

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Galaxy Entertainment Group said it plans to build a low-rise, eco-friendly resort on Boracay, which will be its first project outside of Macau.

PhilippinesTuesday, Mar 20, 2018

Malaysia’s Genting Group is planning an integrated resort on Boracay island at the Savoy Hotel, Philippine Amusement and Gaming Corp Chair Andrea Domingo told reporters at the ASEAN Gaming Summit.

PhilippinesTuesday, Mar 20, 2018

The Philippines is in a strong position to capture a growing share of the premium mass market to help diversify its tourism base, according to Bloomberg Intelligence.

PhilippinesMonday, Mar 19, 2018

Leisure & Resorts World Corp (LRWC) said one of its units has bought a 23-hectare site on Boracay island to develop a $500 million integrated resort with Galaxy Entertainment.

PhilippinesSunday, Mar 18, 2018

Galaxy Entertainment Group’s proposed $500 million casino in Boracay will be proceeding despite an impending closure of the island for up to one year.

PhilippinesThursday, Mar 15, 2018

Gaming Laboratories International has become the first independent accredited gaming test laboratory to successfully complete and issue IP Blocking Certificates for Philippine Offshore Gaming Operator (POGO) licensees.