Monday, June 24, 2024

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AMLC revokes third POGO license

The Philippines Anti-Money Laundering Council (AMLC) as of Tuesday has added Smarc Group International, a POGO operator, to its list of uncooperative covered persons.

Philippines authorities order asset freeze, deportations related to Porac POGO

A freeze order and deportations are on the cards for a group of foreigners linked to an illegal gambling and scam hub in Porac, Philippines.

Raid on unlicensed Pampanga POGO operation rescues 187 workers  

Philippine authorities have conducted a raid on an offshore gaming operator center (POGO) in Pampanga province, reportedly rescuing some 187 workers, both foreign and Filipino.

Technology is the key to standardizing regulations in the gaming industry: Sumsub

Technology has become key in standardizing regulations in the gaming industry. A top industry expert notes that KYC and AML are now integral for operators, requiring a new approach, as different threats and opportunities appear.

Seamless and effective ID verification technology crucial for online gaming industry growth

In an interview with AGB, Frederic Ho, Vice President of Asia Pacific at Jumio, an online identity verification company, highlighted the current challenges faced by ID verification technology and its crucial role in the gaming industry.

Philippines “doing the best it can” to be removed from FATF’s grey list: DFNN Chair

DFNN’s Executive Chairman and Founder, Ramon Garcia Jr., says that the Philippines is "doing the best it can" to be removed from FATF's gray list.

Under the Scope: FATF, junkets, STRs, financiers and workarounds

The Philippines and Vietnam remain on the Financial Action Task Force’s grey list, the only two Asian gaming jurisdictions so defined. In this week’s Under the Scope, gaming expert Ben Lee looks at the differences between each country’s strategy, the impositions they’re facing, and business and political sentiment towards their continued oversight by the financial watchdog.

Daily Asia Gaming eBrief: Philippines AML compliance is a responsibility of the casino operators

The Philippines is fighting to get itself off the Financial Action Task Force (FATF) graylist, with numerous criteria still to fulfill. Amongst them is junket oversight, which still falls under the purview of the casino - given the location on the gaming floor. Despite increased efforts by authorities, the nation needs to be able to prove to the FATF that it's trying to change, and implementing stringent oversight measures.

Burden of AML compliance rests on Philippine casino operators: Lawyer

The Philippines found itself on the global money laundering and terrorist financing watchdog Financial Action Task Force's (FATF) gray list in June 2021 due to junket issues.

Philippine Anti-Money Laundering Council says junket risk management underway, in effort to exit FATF greylist

In response to a statement from the Financial Action Task Force (FATF), the Philippines Anti-Money Laundering Council (AMLC) says that key government agencies have ‘rallied behind’ new directives, including implementing AML/CTF (anti money laundering, counter terrorism financing) controls ‘to manage risks linked with casino junkets’.