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

PhilippinesTuesday, Sep 19, 2017

Alliance Global, owner and operator of Resorts World Manila, said it is seeing signs of recovery following the casino attack in June that left 38 people dead.

PhilippinesThursday, Sep 14, 2017

Nearly all of the 45 firms licensed under the Philippine Offshore Gaming Operators (POGO) scheme will soon be required to renew their licenses should they wish to continue offering online gambling games.

PhilippinesThursday, Sep 14, 2017

GLI Asia-Pacific has become the first independent test laboratory to be accredited by PAGCOR to test and certify online gaming systems operated by holders of POGO licenses.

PhilippinesMonday, Sep 11, 2017

The privatization of casinos operated by Philippine Amusement and Gaming Corp. (Pagcor) may start as early as next year.

PhilippinesSunday, Sep 10, 2017

Melco Resorts and Entertainment (Philippines) Corp. said its board has approved the redemption of up to P8 billion (US$157.2 million) out of the outstanding P15 billion in fixed-rate corporate notes.

PhilippinesFriday, Sep 08, 2017

Former Bureau of Immigration (BI) commissioners Al Argosino and Michael Robles have withdrawn their criminal complaint filed against gaming tycoon Jack Lam.

PhilippinesThursday, Sep 07, 2017

Philippines pop-star turned government worker Esther Margaux "Mocha" Uson is being investigated for performing in casinos despite a prohibition that restricts government employees from entering gaming venues.