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

PhilippinesMonday, Aug 21, 2017

A Chinese casino financier has been arrested for illegally detaining a Korean national who failed to settle his debt, local media reports.

PhilippinesSunday, Aug 20, 2017

Philippines-listed PhilWeb Corp. will be able to operate again after receiving the green light from the Philippine Amusement and Gaming Corp. (Pagcor) to become a service provider, Philstar reports.

PhilippinesThursday, Aug 17, 2017

The opening of Okada Manila hasn’t cannibalized the gaming revenues of Manila’s integrated resorts, with GGR rising 20 percent, 28 percent and 13 percent quarter-on-quarter in 17Q2, according to a note from Morgan Stanley on Thursday.

PhilippinesWednesday, Aug 16, 2017

The Makati Regional Trial Court has issued a writ of preliminary injunction against the Philippine Charity Sweepstakes Office (PCSO) for allegedly violating Berjaya Philippines Inc’s exclusive right to supply and lease lottery equipment in the Luzon territory.

PhilippinesWednesday, Aug 09, 2017

The Philippine Amusement and Gaming Corp on Wednesday proceeded with the opening of Casino Filipino (CF) Manila Bay, despite an ongoing dispute over its lease contract.

PhilippinesWednesday, Aug 09, 2017

Philippine technology firm DFNN Inc. saw net profit rise 456 percent year-on-year to P101.8 million over a surge in revenues from its gaming platform business.

PhilippinesSunday, Aug 06, 2017

The Philippine Amusement and Gaming Corp. has cut its forecasts for 2017 gross gambling revenue, in part because of the June attack on Resorts World Manila.