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, Feb 22, 2018

Takara Gaming Group said it has reached an accord with Bloomberry Resorts’ Solaire Resort & Casino to provide its digital gaming content on the casino floor.

PhilippinesMonday, Feb 19, 2018

Demand from gaming companies will be a significant driver for Manila’s property market this year, with growth likely to exceed earlier expectations, local media cited Leechui Property Consultants as saying.

Philippines, JapanThursday, Feb 15, 2018

Universal Entertainment Corporation, operator of Okada Manila, recorded a net loss of JPY 13.4 billion for 2017 fiscal year, due mainly to an operating loss from its casino and resorts business.

PhilippinesMonday, Feb 12, 2018

Philippine Amusement and Gaming Corporation (PAGCOR) chair Andrea Domingo said she expects income earned from online casinos under the POGO scheme to reach P6 billion in 2018.

PhilippinesWednesday, Feb 07, 2018

Philippine’s gaming regulator has placed a moratorium on new casinos after orders from president Rodrigo Duterte last month.

PhilippinesWednesday, Jan 31, 2018

Philippine Charity Sweepstakes Office (PCSO) general manager Alexander Balutan claims he was offered a bribe in September 2016 to hand over full control of the nation’s Small Town Lottery (STL) operations.

PhilippinesMonday, Jan 29, 2018

Bloomberry Resorts Corporation has submitted a bid to purchase 16 hectares of land where Solaire Resort & Casino and its expansion area is located.