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, Dec 04, 2017

E-games software supplier Philweb disclosed on Monday that it has received a letter from the PAGCOR which allows it to offer its services to the first 16 PAGCOR-licensed gaming sites for electronic games.

PhilippinesTuesday, Nov 28, 2017

BMM Testlabs has announced that it has been officially licensed by the Philippine Amusement and Gaming Corp (PAGCOR) to evaluate, test and certify online gaming systems and games for Philippine Offshore Gaming Operator (POGO) licensees.

PhilippinesSunday, Nov 26, 2017

The Philippine Amusement and Gaming Corporation (Pagcor) says it is projecting gross income to reach P61 billion (US$1.2 billion) in 2017.

PhilippinesThursday, Nov 23, 2017

The Cebu City Council has reportedly endorsed an application for Universal Hotels and Resorts (UHRI) to develop and operate an integrated resort and casino facility in the area.

PhilippinesWednesday, Nov 22, 2017

The Philippines is considering legalizing Bitcoin and other digital assets as securities to be regulated under existing security laws.

PhilippinesMonday, Nov 20, 2017

Philippine technology firm DFNN saw its earnings continue to surge at the end of September, with net income for the first three quarters of 2017 reaching P121.3 million, up 15,062 percent compared to the prior-year period.

PhilippinesTuesday, Nov 14, 2017

Bloomberry Resorts would see its debt levels rise and a reduction in return on invested capital in the short term if it buys the land on which its Solaire Resort & Casino is based, though longer term it may improve valuations, according to Morgan Stanley.